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Mozambique, China central banks to increase cooperation

APA

Copyright : APA

The central banks of China and Mozambique have decided to increase their cooperation, specifically in the area of professional training and expanding banking activities in Mozambique into rural areas, APA has observed in Maputo on Wednesday.Reserve Bank of Mozambique (BM) said in a statement that its governor Ernesto Gove and People’s Bank of China’s Zhou Xiaochuan analysed possibilities for cooperation, both in the areas in which the two central banks are directly involved and in the financial sector in general.

Despite not having signed a cooperation agreement, their meeting was used to establish the bases for “future agreements” between the two banks, the Communications office of the Mozambican central bank told local media.

Of the 43 countries that have so far invested in Mozambique, China is the second-biggest investors, with projects in vital economic sectors such as agriculture, infrastructure, science and technology.

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