Media ININ Economy We Trust
Media IN \ Johannesburg \ 20-04- 2019 agencies
The International Monetary Fund (IMF) has provided emergency aid to Mozambique worth 118 million dollars for the reconstruction of the areas hit by Hurricane Idai last month.
“Mozambique has suffered significant losses and serious damage to the infrastructure and production capacity of Hurricane Idai,” IMF Deputy Chairman Tao Chang said, adding that emergency aid and reconstruction costs are highly valued, making the storm the worst natural disaster in the nation’s history. .
He explained that the loan will help Mozambique meet its urgent financial needs to be more ready to cope with natural disasters and the impacts of climate change in the future.
Hurricane Idai hit central Mozambique in mid-March, displacing hundreds of thousands of people and destroying large swaths of farmland, killing about half a million farmers and destroying nearly 250,000 houses in whole or in part.
