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The Islamic Development Bank Loaned 1.2 Billion to Help Mozambique Bulid High-voltage Transmission Projects

Number of visits: Date:6/24/2015 02:50:48

According to Mozambique's Ministry of Finance said that the Islamic Development Bank agreed to provide $ 200 million loans in Mozambique (about 1.24 billion yuan) to help its new high voltage transmission line project.

According to reports, this line was a long-distance high-voltage transmission line connecting the province of Zambezia and Nampula provinces, intended to replace the existing upcoming overloaded transmission lines, to meet the growing demand for electricity in northern and central regions . The entire project costed about 600 million US dollars (about 3.72 billion yuan).

In addition to providing financing loans, the Islamic Development Bank and Mozambique also signed other two  training cooperation agreement, including financing entrepreneurs and social investment mode, etc..

Islamic Development Bank IDB in banks fortieth annual meeting reaffirmed, "we will strongly support the infrastructure development in Mozambique, this project is just one of the high voltage transmission lines."

TypeInfo: Industry news

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