Maputo - The international financial crisis is unlikely to lead to a significant fall-off in foreign aid and investment in Mozambique because it is well-governed, a senior US diplomat told a press conference in the capital Maputo Monday.

Todd Chapman, business affairs officer at the US Embassy in Maputo said Mozambique stood to receive "much more financial support" because of its stable business environment and the commitment of President Armando Guebuza's government to reform.

Aid workers have expressed fears that the financial crunch in industrialized countries will lead them to slash aid to the developing world.

Chapman sought to assuage those fears in a country that is just beginning to turn the corner after a 16-year-civil war and depends heavily for budgetary support on foreign aid.

The US would continue to invest in improving Mozambique's infrastructure through the Millennium Challenge Account, Chapman said.

Outgoing US President George W Bush launched the account in 2002 as a way of rewarding developing countries for improved governance.

Mozambique, a darling of Western donors, was selected in 2007 to receive 500 million dollars over the next five years to fight poverty and stimulate economic growth in the northern region, the poorest part of the country of around 21 million people.

Currently, the US is giving Mozambique around 300 million dollars a year for projects including HIV-AIDS prevention to the fight against corruption. That money is disbursed by the state aid agency USAID. (dpa)