Mozambique receives $400million AFDB loan approval

The loan will service the ‘Mozambique LNG Area 1 project’, Africa’s single largest foreign direct investment to date
Mozambique receives $400million AFDB loan approval

The African Development Bank has announced the approval of a long-term senior loan of $400 million towards an integrated liquefied natural gas plant in Mozambique, expected to become one of the world’s largest LNG exporters.

The ‘Mozambique LNG Area 1 project’, ranked Africa’s single largest foreign direct investment to date, is made up of a team of energy developers and operators, led by Total, alongside Mitsui, Oil India and the country’s national oil and gas company, ENH amongst others.

AfDB President, Akinwunmi Adesina says: “Through its participation, the African Development Bank again demonstrates its leading role in supporting Africa’s transformation”.

Through this approval, the Bank carries a mandate to ensure the project’s adherence to international transparency standards and full compliance with environmental and social requirements, in line with its Integrated Safeguards System.

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The LNG liquefaction plant will boast a production capacity of 12.88 MTPA and is the first of several LNG trains expected to undergo development in the northern part of the country.


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