EU to help poor African countries
Thématique :
afrique,
mozambique
July 09 2008
The European Union has set aside €620-million (about R7-million) to help African countries develop their economies in the next six years.
Glauco Galzuola, the European Union head of delegation, said the facility would help countries with finance problems.
"The globalisation of economies needs response and it has to be through the new role of governments that we are funding," he said when he addressed an Italian business delegation visiting Mozambique on Wednesday.
Galzuola said the EU had defined various strategies in Mozambique in order to reinforce our co-operation to improve the business environment in order to attract foreign investment into the country.
"Mozambique has a lot of investment potential which is further bolstered by the country's political stability.
"In the next 15 years the country will have even bigger potential of attracting investors in the energy and gas sectors because of abundant unexploited resources," he said.
EU Agriculture and Rural Development head in Mozambique, Giancarlo Monteforte, told the delegation that Mozambique had vast opportunities in the agricultural sector specifically in the cotton, cashew nuts, timber and sugar sectors.
He said the EU would be funding a rural development project aimed at the construction of access roads, development of the irrigation system and rural electrification.
The programme was approved by the Mozambican government and it would help investors willing to invest in the rural areas of Mozambique.
The Italian business delegation which has been in Mozambique since Monday has representatives of the energy, agriculture and mining sectors in the country to seek investment opportunities.
The European Union has set aside €620-million (about R7-million) to help African countries develop their economies in the next six years.
Glauco Galzuola, the European Union head of delegation, said the facility would help countries with finance problems.
"The globalisation of economies needs response and it has to be through the new role of governments that we are funding," he said when he addressed an Italian business delegation visiting Mozambique on Wednesday.
Galzuola said the EU had defined various strategies in Mozambique in order to reinforce our co-operation to improve the business environment in order to attract foreign investment into the country.
"Mozambique has a lot of investment potential which is further bolstered by the country's political stability.
"In the next 15 years the country will have even bigger potential of attracting investors in the energy and gas sectors because of abundant unexploited resources," he said.
EU Agriculture and Rural Development head in Mozambique, Giancarlo Monteforte, told the delegation that Mozambique had vast opportunities in the agricultural sector specifically in the cotton, cashew nuts, timber and sugar sectors.
He said the EU would be funding a rural development project aimed at the construction of access roads, development of the irrigation system and rural electrification.
The programme was approved by the Mozambican government and it would help investors willing to invest in the rural areas of Mozambique.
The Italian business delegation which has been in Mozambique since Monday has representatives of the energy, agriculture and mining sectors in the country to seek investment opportunities.
