Mozambique gets US$150-mln loan from China Exim Bank

Mozambique has obtained a new loan of US$150 million from the Export-Import Bank of China (also known as China Exim Bank) to finance scientific research this year, Mozambican newspaper Correio da Manhã reported this week.

The National Science and Technology Park of Mozambique would benefit from the loan, the newspaper said. The park’s revenues in the first half of 2015 amounted to only 5 percent of its expenditure, it added.

China Exim Bank has also offered loans to Mozambique to finance the construction of two infrastructure projects there, including the Maputo-Catembe Bridge.

The structure – being built by state-run China Road and Bridge Corporation – is part of the Mozambique Government’s plan to solve the traffic problems in the nation’s capital. The project – including some link roads – should be completed in 2017, Chinese state-run news agency Xinhua has reported.