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Development Bank of Southern Africa gives $81.30 million to Mozambique

Development Bank of Southern Africa (DBSA) gave $81.30 to Mozambique’s national energy utility, Electricidade De Mocambique (EDM) for the rehabilitation and upgrading of the energy supply network.

This financing support is in line with Mozambique’s 2030 plan to upgrade its power network for it to provide universal electricity access.

Electricidade De Mocambique has launched several projects focusing on strengthening the transmission grid and improving distribution capacity in the country.

Phase one is ready for implementation. It comprises of two out of twelve projects located at Pemba City and Maputo City at an estimated cost of $81.30 million.

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The DBSA loan facility will be advanced directly to EDM as a 15-year senior debt facility.

Banco Nacional de Investimento (BNI), Mozambique’s development bank served as the project’s evaluation partner and providing capital raising and advisory services.

Development Bank of Southern Africa …