November 3, 2005

Annual cooperation plan with Portugal signed

Delegations from the Mozambican and Portuguese governments have signed the Annual Cooperation Plan for 2006, under which Portugal will grant 19.2 million euros (about 23.8 million US dollars) to development programmes in Mozambique. Portuguese Prime Minister Jose Socrates said the Cooperation Plan demonstrated Portugal's willingness to contribute to Mozambican development During his talks with President Armando Guebuza, said Socrates, the two men had concentrated on three matters - bilateral cooperation, the remaining Mozambican public debt to Portugal, and the negotiations to secure a majority Mozambican stake in the Cahora Bassa dam on the Zambezi. "These three dossiers and their evolution represent a significant development in the relations between Portugal and Mozambique", said Socrates, adding that there would be a complete write-off of Mozambique's public debt (not to be confused with the much larger debt that the Cahora Bassa operating company, HCB, owes to the Portuguese treasury). (Agencia de Informacao de Mocambique, Maputo)

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