European Bank Releases $27.2m For Mozambique Airport Upgrade

VENTURES AFRICA – European Investment Bank (EIB) has released $27.2 million to Mozambique for the upgrade of country’s main airport, Maputo International Airport.
The fund will be used to repave the airport’s main runway, roads and the airport apron as well as to repair the landing light system and improve water supply in case of fire and facilities for aircraft refuelling.
“The EIB had provided a number of loans with favourable terms including this latest one with a maturity of 20 years, including a four-year grace period and an interest rate of 0.99 percent, ”said Mozambique’s Finance Minister, Manuel Chang.

The EIB is a publicly owned international financial institution and its shareholders are the member states of the European Union (EU).
Maputo International Airport, also known as Lourenço Marques Airport or Mavalane International Airport, is located 3 kilometres northwest of the centre of Maputo, the largest city and capital of Mozambique.
Maputo International Airport is also the hub for LAM Mozambique Airlines and Kaya Airlines. Most destinations served from the airport are in Africa but TAP Portugal operates a service to Lisbon, Portugal and Qatar Airways operates flights to Doha.