April 19, 2019 / 6:58 PM / 3 months ago

IMF gives Mozambique $118 million for Cyclone Idai rebuilding

MAPUTO, April 19 (Reuters) - The International Monetary Fund will grant Mozambique a $118.2 million credit facility to help it rebuild infrastructure after a devastating cyclone that killed hundreds of people and flattened whole villages, the lender said on Friday.

“The financial assistance is intended to address large budgetary and external financing gaps arising from reconstruction needs after Cyclone Idai, which caused significant loss of life and infrastructure damage,” it said. (Writing by Mfuneko Toyana Editing by Gareth Jones)

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