Maputo, Sept. 2, 2026 (Lusa) - The Socialist Party intends to seek clarification from the government regarding the implementation of the €500 million credit line to finance investment by Portuguese companies in Mozambique, which the parties agreed in December, the secretary-general announced on Tuesday.

«It is time for the Portuguese government to be clear about the credit line, because they announced it at the Porto Summit about a year ago, and so far it has not been put into practice,» said José Luís Carneiro, speaking to Lusa on the sidelines of a dinner with Portuguese and Mozambican business leaders in Maputo, where he has been on a visit since Monday.

«It is clear to me today that our European and Portuguese cooperation with Africa must be at the top of our priorities,» the Socialist leader said after meeting in Maputo, «with Portuguese companies that employ thousands of people, including hundreds of Portuguese nationals».

The Secretary of State for the Economy, João Ferreira, told Lusa on Monday, also in Maputo, that the government intends to launch the €500 million financing facility for investment by Portuguese companies in Mozambique «as soon as possible».

«We are working and doing everything possible to ensure this happens as quickly as possible,» said the Secretary of State during the opening of the 61st edition of the Maputo International Fair (Facim).

Following local meetings over the past two days at which more than 500 Portuguese-owned companies operate, the Secretary-General of the PS said that the credit line's non-implementation «has caused astonishment» locally.

«And, above all, a desire to understand the reasons why it has not been put into practice. We will question the government when we return to Lisbon, primarily seeking to make them realise that this credit line is of great importance, both for the operations of Portuguese companies and for wealth creation and, naturally, also for job creation.» He even stated that the facility would be particularly important «for the livelihoods of many workers who, whilst Portuguese, work for companies» that «are contributing to Mozambique's development».

«It is a parliamentary question that will be put to the Ministry of Finance, because it is they, together with their Mozambican counterpart, who negotiate these credit facilities,» he further explained.

Carneiro pointed out that this credit line prioritises funding for the agri-food sector, tourism, transport, logistics and energy, which are «vital» for the country's economic development.

«Portugal is an essential partner for Mozambique's present and future, and as the leader of the Socialist Party, I wish to convey this clear message. For me, and for us, Europe's and Portugal's cooperation with Africa will be at the top of our priorities,» he emphasised.

The Socialist leader pointed out that Mozambique is pressing ahead with major natural gas projects, which, within two years, will place the country amongst the largest producers in Africa, and that the prompt implementation of this line of credit will «facilitate the integration of Portuguese companies into the framework of investment opportunities».

«Because, naturally, gas exploration, and if you like, the exploitation of resources linked to energy and strategic raw materials, represents an opportunity for Mozambique's present and future, and it is important that Portugal seizes this framework of opportunities; to that end, the credit line is essential and must therefore be put into practice,» he said.

«And, from our point of view, it should remain open so that in the future it can even be increased to enable us to take advantage of these future opportunities,» he added, referring to the possibility, already advocated by Mozambique, of increasing the allocation for this facility.

In an interview with Lusa on 14 July in Maputo, Mozambique's President, Daniel Chapo, acknowledged that the first disbursements from this facility would take place in the second half of the year, highlighting Portugal as the country's «strategic partner».

«We are working towards this, so that during the second half of this year the funds can be disbursed and the projects that have been defined can actually get off the ground,» said Daniel Chapo, before leaving for an official visit to Lisbon.

On 9 December 2023, in Porto, Portugal and Mozambique signed 22 legal instruments on cooperation during the sixth bilateral summit, including an addendum to the 2022–2026 Strategic Cooperation Programme between the two governments.

The two countries also signed a protocol to make available a €500 million line of credit for project guarantees supporting Mozambique's sustainable development, accessible to Portuguese companies operating in the African country.

PVJ/ADB // ADB.

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