The International Finance Corporation (IFC), a member of the World Bank Group, has expressed its interest in funding the Mozambican biofuels sector, given the country’s high potential.
The interest was expressed on Thursday by the IFC executive director, Makhtar Diop, at an audience granted to him by Mozambican President, Filipe Nyusi, during his visit to Kigali, on the sidelines of the Africa CEO Forum.
“We talked about cooperation between Mozambique and the IFC. We discussed various aspects, especially investments in the biofuels sector”, Diop told reporters, minutes after his meeting with the President.
According to Diop, no figures were given in terms of the volume of investment, but the parties were committed to developing concrete programmes through the national private sector to explore the energy potential of Mozambique.
“We’re not talking about figures, because that will depend on the projects that the country will present through the private sector. Immediately, we will make investments in the biofuels sector,” said the source.
The IFC believes that biofuel projects are viable with strong government support, through the adoption of policies adapted to the Mozambican context, clearly alluding to tax incentives to encourage the production of raw materials in order to ensure competitive prices for biofuels.
He stressed that the IFC is paying particular attention to the infrastructure sector to support agricultural production and its entire value chain in Mozambique, which is considered to be the basis for the country’s economic growth.
For his part, the general manager of the Beluluane Industrial Park (MozParks), Onório Manuel, said “we are here to attract investment and there couldn’t be a better opportunity like this one in Kigali.”
