World Bank aims to give Mozambique $6 billion of financing over next five years

MAPUTO, Feb 23 (Reuters) - The World Bank is aiming to provide Mozambique with $6 billion of mostly concessional financing over the next five years, its director for Mozambique told reporters on Monday.

"We have a balance sheet of around $3 billion on the bank side, and we're hoping to mobilise another $3 billion. So that's a total of $6 billion on the bank side, which is very concessional," said Fily Sissoko, World Bank division director for Mozambique, Madagascar, Mauritius, Seychelles and Comoros.

The International Monetary Fund warned last week that the Southern African country is facing worsening debt dynamics.

While optimism surrounds the resumption of a major liquefied natural gas project and Mozambique's removal from the international Financial Action Task Force's 'grey list', the IMF highlighted downside risks from the public debt burden, security challenges, natural disasters, and institutional fragility.