Mozambique is to benefit from a $50 million loan from the Organisation of Petroleum Exporting Countries’ Fund in support of its easy access to energy promotion.

The loan was approved on Friday, 30th October 2020 by the financial institution. It is expected to, in line with the United Nations Agenda 2030, provide quality, accessible and sustainable energy to all of the country’s population by 2030.

Data from world bank shows that in 2018, the country recorded an electrification rate of about 30%.

Mozambique is not the only country that benefitted from an approved loan on the mentioned day above. OPEC Fund is also preparing a $35 million to El Salvador and a $50 million to Pakistan to support both countries in their response to COVID-19. The $135 million was approved through the Fund’s fast-track that was adopted to ensure finance reaches countries in dire need for it.