IMF offers Mozambique millions in aid after devastating cyclone
Johannesburg, The International Monetary Fund (IMF) has
granted Mozambique an emergency loan of some 118 million dollars for
reconstruction following Tropical Cyclone Idai.
"Mozambique suffered significant loss of life and substantial damage to physical infrastructure and productive capacity as result of the recent Tropical Cyclone Idai," Tao Zhang, IMF deputy managing director and acting chair, said on Friday on announcing the loan.
"Emergency assistance and reconstruction costs are estimated to be enormous, making this storm the worst and costliest natural disaster to ever strike the country." The loan will help the country in south-eastern Africa to meet its immediate financial needs, he said. For the future it is important that Mozambique is better prepared for natural disasters and climate change. The cyclone had hit the centre of Mozambique in mid-March, leaving a trail of devastation. Hundreds of thousands of people were left temporarily homeless, while floods destroyed the farmland of about half a million farmers. Around 250,000 houses were at least partially damaged, and around 600 people were killed.
Source: Saudi Press Agency