The World Bank Group's Board of Executive Directors has approved an International Development Association (IDA) credit in the amount of US$50 million to boost Mozambique's efforts to increase access to food and better nutrition for its people, and to promote market-based agriculture and private sector investment.
This financing is the second of a series of three agriculture budget support operations that finance a medium-term agriculture sector reform program in Mozambique.
While Mozambique's agriculture competitiveness has increased over the years, the sector is largely characterized by low productivity. Turning agriculture into an engine for achieving broad-based economic growth and accelerated poverty reduction will require reforms to increase private sector participation, public investments, and an enabling business environment.
To read the article titled, “World Bank Supports Mozambique Harness Its Agricultural Potential to Increase Food Security”, click here.