Mozambique plans to get funding from the Islamic Development Bank

The government of Mozambique plans to access funding from the Islamic Development Bank (IDB) to finance various investment projects of small and medium-sized enterprises, the Deputy Minister of Industry and Trade, Osmar Mitha said. Mithá said the IDB reacted positively to this request from Mozambique, but said the country still faces some obstacles, notably the introduction of some legal improvements. The IDB has applied at least US$300 million in various sectors in Mozambique since 1995, the year the country joined the financial group. Currently, there are 22 ongoing projects valued at more than US$160 million in sectors such as agriculture, education, health and water supply.