World Bank to provide USD 380 million for the renovation of the Port of Nacala and infrastructure linking Mozambique and Malawi

In order to encourage industrial development in Malawi and Mozambique, the World Bank will shortly make US$380 million available for infrastructure development at the Port of Nacala and other key locations.

By using the port of Nacala as the transportation hub, the fund will be used to streamline the logistics of moving agricultural products between the two nations' marketplaces and the production areas.

Mateus Magala, the Minister of Transport and Communications, announced the information on Tuesday in Nacala, claiming that the investment aims to support industrialization for the two nations' sustainable and contemporary development.

"US$150 million will go to Malawi, and the rest 230 million will go to Mozambique, and this will connect the markets, create new opportunities, and make the corridor not simply for travel."