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Comoros plans to raise $5 bln for development projects next month in Paris

Thursday, 28 November 2019 16:08
Comoros plans to raise $5 bln for development projects next month in Paris

(Ecofin Agency) - The Comorian government will meet with several financial partners in Paris next month. The Indian Ocean archipelago seeks to mobilize €4.5 billion ($5 billion) in investments for several projects mainly in tourism and infrastructure sectors.

The announcement was made on Tuesday by the Economy Minister Houmed Msaidie (pictured), during an interview with Bloomberg. The operation comes a few months after the re-election of President Azali Assoumani, who had announced his intention to make tourism one of the country's new growth mainstays.

These investments, which will be provided in the form of loans or grants, are mainly aimed at diversifying the economy of the archipelago, which is strongly dominated by horticultural exports.

Moutiou Adjibi Nourou

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ECOFIN AGENCY offers a selection of articles translated from AGENCE ECOFIN. Founded in 2011, Agence Ecofin is a leader in Francophone Pan-African economic news, particularly in West and Central Africa. The agency publishes daily news on nine African economic sectors: Public Management, Finance, ICT, Agribusiness, Energy, Mining, Transport & Logistics, Communication, and Training.

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