THE World Bank has moved U$150million of the funds it has ear-marked for Mozambique projects to help fund the southern African nation’s efforts to recover from the aftermath of Cyclone Freddy.
One of the deadliest storms to hit the continent in the last two decades, Freddy ripped through Malawi, Mozambique and Madagascar, first in late February before circling back in March. More than 1 000 people were reported dead in the region.
The World Bank said the money would aid the Mozambican government in restoring transport infrastructure and provide services including water supply, sanitation, health and education.
The funds are drawn from the World Bank’s existing projects in Mozambique, and are separate to the US$300million grant it approved in July, the multilateral lender said. It consists of US$100m in grant money and US$50million as credit extended by the bank.
“Our priority is to support the Government to respond to this emergency quickly and ensure that the people affected by yet another cyclone can recover as soon as possible,” said Xavier Chavana, the lender’s disaster risk management specialist in Mozambique. — Reuters
