Maputo, Mozambique, December 20, 2023 - A new report from IFC – the Mozambique Market Assessment for Resilient Buildings Report – showcases the opportunities for local developers to improve the climate resilience of buildings in Mozambique, a country particularly vulnerable to the effects of climate change, including cyclones, floods, and droughts.
The report found that while Mozambique demonstrates a high level of awareness to climate risks, it has yet to implement a full-fledged policy and legal framework for building climate-resilient buildings. The report also found that construction companies in Mozambique often struggle to access financing, and that construction materials are largely imported, factors that are hampering the development of climate resilient buildings in the country.
The report was presented in Maputo this month at an IFC-organized roundtable on climate resilience for Mozambique that convened policy makers, industry specialists, construction companies, international developers, insurance companies, and UN Habitat.
Climate-resilient buildings are those designed and constructed to withstand and adapt to the impact of climate change and other environmental challenges, minimizing damage and ensuring long-term sustainability.
"There is a promising market and urgent need for climate-resilient buildings in Mozambique," said Vasco Nunes, IFC Acting Country Manager for Mozambique. "IFC is working with partners to design policies, programs and products that will help increase climate financing for Mozambique's building sector with the ultimate goal of ensuring the safety and longevity of people's homes and places of business."
The Mozambique report was developed using IFC's Building Resilience Index (BRI), a hazard mapping and resilience assessment framework for developers, homebuyers, and other stakeholders that aims to enhance the overall climate adaptation of cities.
Mozambique is the first country in sub-Saharan Africa to benefit from the BRI. The framework, which was first adopted by the Philippines, has also been used in Vietnam, Colombia, and Mexico.
IFC has invested nearly $248 million in Mozambique, with 87 percent focused on expanding access to renewable energy and 11 percent dedicated to agribusiness development. These investments showcase IFC's commitment to sustainability and support for Mozambique's development.
About IFC
IFC — a member of the World Bank Group — is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2023, IFC committed a record $43.7 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. For more information, visit www.ifc.org
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