Mozambique, Korea Bank Agree on Solar Loan, Radio Mozambique Says
Export-Import Bank of Korea signed a $60 million loan agreement with Mozambique to fund a solar-panel project and an emergency-information management system, Radio Mozambique reported.
The loan, which carries an interest rate of 0.01 percent, will be repaid over a 40-year period, including a 15-year grace period, the Maputo-based broadcaster said, citing Mozambican Finance Minister Manuel Chang. The loan accord was signed yesterday by Chang and Sang Wan Byun, vice president of the South Korean lender, it said.
To contact the reporter on this story: Fred Katerere in Maputo at email@example.com
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