The Mozambique Liquefied Natural Gas (LNG) Area 1 Project and the African Development Bank (AfDB) have jointly received the prestigious Global Multilateral Deal of the Year 2020 award by the print and online publication Project Finance International (PFI).
The project, the single largest foreign direct investment in Africa to date with a value of over US $24bn, will exploit Mozambique’s immense offshore natural gas reserves, which can potentially transform global energy markets. The African Development Bank signed an agreement for a US $400m senior loan to finance the project in July 2020.
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