A framework deal has been inked by the government of Mozambique with China with a view to granting a loan of US$120 million for reconstruction of the fishing port of Beira, in Mozambique s Sofala province.
This new deal introduces a funding deal with the Export and Import Bank (ExIm) of China that is anticipated expected to grant the subsidised loan by the end of the year.
This go-ahead is part of a portfolio of 11 projects for the 2013-2015 period, for which the Mozambican government has requested funding from China, and that is mainly focused on building infrastructure, with an overall budget of US$1.4 billion.
The fishing port of Beira would manage about 70,000 tons of fish per year, generating more trade and jobs in the region, as well as adding to equipment for handling, refrigeration and storage, at the port with this reconstruction and expansion work.
The Chinese ambassador to Mozambique, Li Chunhua, noted the success of similar initiatives funded with Chinese capital, which offers good prospects for the agreement and further noted China s interest in, expanding cooperation with the country and deepening the traditional friendship between the two peoples.
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