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IMF gives Mozambique $118 million for Cyclone Idai rebuilding

FILE PHOTO: A woman walks with her children past flooded houses in the aftermath of Cyclone Idai in Tica near Beira, Mozambique March 31, 2019. REUTERS/Zohra Bensemra

MAPUTO (Reuters) – The International Monetary Fund will grant Mozambique a $118.2 million credit facility to help it rebuild infrastructure after a devastating cyclone that killed hundreds of people and flattened whole villages, the lender said on Friday.

“The financial assistance is intended to address large budgetary and external financing gaps arising from reconstruction needs after Cyclone Idai, which caused significant loss of life and infrastructure damage,” it said.

Writing by Mfuneko Toyana; Editing by Gareth Jones

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