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EU gives US $58 million to fight poverty

    JOHANNESBURG

    The European Commission (EC) is giving Mozambique US $58 million to aid the
    government’s fight against poverty, a commission statement was quoted as
    saying on Thursday. The statement said the money would contribute “to the
    continuity of the positive results attained in the country’s economic and
    social areas, particularly actions contributing significantly to the
    reduction of poverty,”

    The first US $22 million will be available immediately, while the remaining US $36 million dollars will be disbursed between June and July, the Commission said. Meanwhile news reports added that the European Investment Bank would also write off US $17.5 million of Mozambique’s debt under the Highly Indebted Poor Countries (HIPC) initiative.

    This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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