Mozambique: Government signs deal with World Bank to promote quality tourism

7 May 2008

Dubai, United Arab Emirates, 7 May – The International Finance Corporation (IFC) is set to support the Mozambican government in carrying out “high level investments” in tourism, based on four “anchor locations” as yet to be named.

The Tourism Anchor Investment Program, which is a joint initiative of the IFC, of the World Bank group, and the Mozambican Tourism Ministry, has secured four locations on the Indian Ocean coast, which are expected to generate US$1 billion in investment for Mozambique and create 25,000 direct and indirect jobs.

“This project is a good opportunity for large-scale investment in one of the most beautiful parts of Africa,” said the Tourism minister, Fernando Sumbana, adding that his country had an exceptionally strong basis for tourism and it was now time to transform that potential into opportunities through quality investments.

Babatunde Onitiri, the IFC official responsible for Mozambique said that the programme would help develop and preserve protected areas, provide international visibility for Mozambique and be a driver of the tourism economy.

The four locations will include two tourist resorts, with a capacity to accept wide-scale tourism and construction of homes and the other two locations will be selected for smaller-scale eco-tourism. (macauhub)