Mozambique and Portugal have signed an agreement to set up a fund to support investments in the Mozambican energy sector.
The fund will focus on projects for clean energy that will not only help combat the effects of climate changes, but also develop models for the sustainable production and use of energy.
The fund will be managed by a Portuguese entity, the Sociedade Financeira de Apoio ao Desenvolvimento (SOFID) with a majority of public capital, which operates in the area of public aid for investments. The company will operate in close cooperation with the Mozambican government authorities.
Under this agreement, Portugal pledges to raise 124 million US dollars for the fund, to be used in support of projects designed by Mozambican or Portuguese individuals or companies.
The fund will focus on projects for clean energy that will not only help combat the effects of climate changes, but also develop models for the sustainable production and use of energy.
The fund will be managed by a Portuguese entity, the Sociedade Financeira de Apoio ao Desenvolvimento (SOFID) with a majority of public capital, which operates in the area of public aid for investments. The company will operate in close cooperation with the Mozambican government authorities.
Under this agreement, Portugal pledges to raise 124 million US dollars for the fund, to be used in support of projects designed by Mozambican or Portuguese individuals or companies.
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