The aim of the Beira Project is the rehabilitation of the transport infrastructure of the Beira corridor in Mozambique, including the rehabilitation of the Sena railway line and the restoration of the Beira port access channel to its original specification. The total project costs are estimated at EUR 188.5m and are being co-financed by loans from the EIB, the World Bank’s IDA, the Beira Railway Company (CCFB - Companhia dos Caminhos de Ferro da Beira), the Mozambique Ports and Railways (Portos e Caminhos de Ferro de Moçambique), the Danish Development Agency (Danida) and by a grant from The Netherlands through ORET (the Development-Related Export Transactions Programme of the Directorate-General for International Cooperation of the Dutch Ministry of Foreign Affairs).
The EU-AITF IRS grant is being used to subsidise the interest payable by the Republic of Mozambique under the two EIB loans.The subsidised interest rate is 1.8% p.a. for the financing of the Rail Component (loan of EUR 42 million) and 2% p.a. for the Port Component (loan of EUR 23 million).