(Ecofin Agency) - The Emirates Khalifa Fund for Enterprise Development has provided $25 million to help Mozambique create 11,000 jobs for women and youth. The loan deal was signed on 24 February 2020, between the President of the Fund, Hussein Jassim Al-Nowais, and the Mozambican Minister of Economy and Finance, Adriano Afonso Maleiane.                                            

According to Hussein Jassim Al-Nowais, this financial support will make it possible to carry out 4,800 innovation and entrepreneurship projects that will generate 11,000 job opportunities over the next five years. 40% of these projects will be aimed at empowering women, while the rest will be dedicated to remote and poor communities.

Welcoming the Emirati fund’s support, Adriano Afonso Maleiane said: “This financing agreement will contribute to improving the performance of the national economy by supporting small and medium enterprises, which are the pillars of a robust and sustainable economy.”

André Chadrak