MAPUTO, March. 29 (Xinhua) -- Mozambican President Daniel Chapo announced on Friday the launch of the Economic and Business Recovery Window for Small and Medium Enterprises affected by natural disasters in the provinces of Nampula, Cabo Delgado, Zambezia, and Tete.

The program, funded with 4.7 million U.S. dollars from the World Bank, aims to support businesses impacted by recent weather events, including Tropical Cyclone Jude.

"Companies benefiting from this fund must use it responsibly to revive the economy and maintain employment across various sectors," Chapo said in a speech broadcast on the national television network Television of Mozambique.

The financing will target about 100 micro, small, and medium enterprises, with amounts ranging from 1 million to 3 million meticais (about 15650 to 46950 U.S. dollars).

Chapo reiterated the government's commitment to continue negotiations with the World Bank to expand funding for income-generating projects.

"We will keep creating funds to stimulate economic recovery and finance the private sector. Development is impossible without a strong private sector that generates jobs, pays taxes, and contributes to essential infrastructure like roads, schools, and hospitals," he said.

The president also highlighted the importance of linking small and medium enterprises to national mega-projects, drawing on his experience in Tete, Nampula, Cabo Delgado, and Inhambane.

"We are aware of the challenges faced by national entrepreneurs in accessing credit, and we want to create real opportunities for them to grow," Chapo said.

The government will continue to monitor the initiative's results to assess new phases of the program, ensuring that more businesses can benefit in the future, Chapo added. Enditem.

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