The World Bank approved today a $100 million grant from the International Development Association (IDA) in support of Maputo Urban Transformation Project. The project will finance critical urban infrastructure investments in the city and support the implementation of municipal reforms.
"This investment will ultimately contribute to harness the role of Maputo as the country's economic powerhouse by investing in urban infrastructure and services, while supporting critical reforms to ensure that urbanization in Maputo can contribute to economic growth, poverty reduction, and structural transformation," noted Idah Z. Pswarayi-Riddihough, World Bank Country Director for Mozambique, Madagascar, Comoros, Mauritius, and Seychelles. Indeed, urbanization has been an essential part of most nations' development, contributing to faster poverty reduction, stronger economic growth, and a climate resilient future.
"Urbanization has not benefited everyone equally in Maputo as the city has expanded informally, without effective urban planning and the necessary investments in basic infrastructure and land tenure security," said André Herzog, Senior Urban Specialist and Task Team Leader. "Most of the project's funds will benefit the urban poor by investing in the upgrading of informal settlements."
