AfDB to support Mozambique rail project

The African Development Bank (AfDB) is taking the lead in facilitating the takeoff of one of Africa’s largest infrastructure project − the $5-billion Nacala corridor rail and port project, supporting the project with $300-million from its private sector window. After years of financial structuring, a signing ceremony presided over by the Mozambican Economy and Finance Minister Adriano Maleiane, Transport and Communications Minister Carlos Mesquita, and Energy and Natural Resources Minister Laeticia Klemens in Maputo marked the formal signing of the project deal.