APA-Maputo (Mozambique) United States foreign assistance agency Millennium Challenge Corporation (MCC) has approved a US$500-million aid programme to address constraints to Mozambique’s economic growth by exploiting green and blue economy opportunities and building resilient infrastructure.
MCC announced late Wednesday that its board of directors had approved the programme that would target the Mozambique Connectivity and Coastal Resilience Compact by implementing climate-friendly measures such as resilient transportation infrastructure, opportunities for the green and blue economy, and policy and institutional reforms that foster effective and sustainable long-term development.
“In Mozambique, we’re implementing MCC’s most climate-forward compact – a combination of resilient transport infrastructure, green and blue economy opportunities, and policy and institutional reforms to enable more effective and long-term growth,” MCC chief executive Alice Albright said in a statement.
Through this programme, MCC seeks to improve transport connectivity in rural areas, incentivize commercial agricultural through policy and fiscal reforms, and improve coastal livelihoods through climate resilience initiatives.
This is the second MCC programme for Mozambique. The previous US$506.9-million Mozambique Compact, which was concluded in 2013, invested in water and sanitation, land tenure, transportation and agriculture.
The MCC is an independent U.S. government development agency working to reduce global poverty through economic growth.
Created in 2004, MCC provides time-limited grants that pair investments in infrastructure with policy and institutional reforms to countries that meet rigorous standards for good governance, fighting corruption and respecting democratic rights.
JN/APA