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Mozambique: Country And IFC Approve Tourism Programme
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Agencia de Informacao de Mocambique (Maputo)
8 May 2008
Posted to the web 8 May 2008
Dubai
The International Finance Corporation (IFC), the private sector funding wing of the World Bank, announced on Tuesday that it has signed with the Mozambican government an investment programme to develop the tourism sector in the country.
The programme, expected to draw in investment of one billion US dollars, is to benefit four tourism sites along the Mozambican coast, according to an IFC press release, received by AIM.
Known as the Mozambique Tourism Anchor Investment Programme, the IFC believes that the four sites (which are not mentioned by name) will create 25,000 direct and indirect jobs. They will also "spur growth in tourism, develop supply chains, promote entrepreneurship, and create opportunities for the local community", the release claims.
"This project is a great opportunity for large-scale tourism investments in one of Africa's most beautiful and unique destinations," according to Tourism Minister Fernando Sumbana, cited in the release. "Mozambique's resource base for tourism is exceptionally strong, and now is the time to transform this potential into opportunities by securing quality investments."
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The IFC country manager of Mozambique, Babatunde Onitir, declared "We are looking for large-scale developers and operators that have a proven track record in emerging markets and that subscribe to environmentally and socially sound development principles.,"
The IFC claims that this programme "will help develop and preserve protected areas, provide positive international exposure to the country, and drive the growing tourism economy. The four sites will include two resorts, which are suitable for large-scale tourism and residential development, and two sites earmarked for smaller-scale eco-tourism developments" . It says that the sites were selected "for the quality of their natural resource base, location, access, development potential, and proximity to existing attractions".
IFC business in Mozambique is currently estimated at 113 million US dollars, covering eight projects in the areas of finance, agriculture, raw materials, fuel and gas, among others.
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