Mozambique receives assistance for conservation and tourism development project.

0 Comments | M2 Presswire, December, 2005

M2 PRESSWIRE-2 December 2005-WORLD BANK: Mozambique receives assistance for conservation and tourism development project(C)1994-2005 M2 COMMUNICATIONS LTD RDATE:01122005 WASHINGTON - The World Bank Board of Directors today approved an International Development Association (IDA) credit* of US$20 million to support the conservation of biodiversity and natural ecosystems as well as promote economic growth and development based on the sustainable use of natural resources by local communities in Mozambique.

The project for which the Board approved the credit will also be financed by a US$10 million grant from the Global Environment Facility (GEF), in accordance with the work program approved by the GEF Council in October 2005 as well as a US$3.7 million grant...