JOHANNESBURG - The International Monetary Fund has granted Mozambique a $118.2 million credit facility to help it rebuild infrastructure.
Reports say more than a thousand 1,000 people were killed in Mozambique, Zimbabwe and Malawi when the cyclone hit in March. The IMF said the financial assistance was aimed at addressing large, budgetary and external financing gaps. It said this arose from reconstruction needs after the cyclone which caused significant loss of life and infrastructure damage.
The World Bank estimated the country will need over $2 billion to recover. The city of Beira was particularly affected.WATCH: Cholera hits Mozambique two weeks after Cyclone Idai
HowAboutDC
Yet an old building catches fire in Paris and within hours Millions of Dollars are donated
Where are the investors, and capitalists because Mozambique needs help.
Heartbreaking! Where’s those billionaires now? Not worth it...?😭
Is it a really a gift or a loan...
Not a donation but a loan
Credit not donation?🤔
Why can't Mozambique receive donations the same way France received donations recently?