Council of Ministers of Mozambique

Built World

Approved the financing structure and related resolutions

Mozambique's cabinet approved a financing structure for the Coral Norte floating gas project that lets developers borrow up to 70% of a $7.2 billion budget while keeping the debt off the state's books. A decree dated November 4 sets the ceiling and bars lenders from using guarantees in ways that would touch national sovereignty, regulatory powers or ownership of natural resources.

Updated 1 hour ago