MOZAMBIQUE: World Bank Agency To Insure Sugar Project

Author: UN Wire, Published on: 6 July 2001

The Multilateral Investment Guarantee Agency, a World Bank Group member, will provide $65 million in investment insurance to a consortium of four Mauritian companies and to the Industrial Development Corporation of South Africa Ltd. to help rehabilitate and partially privatize Mozambique's largest sugar estate, the former Sena estate in the Marromeu region....The project, expected to create 5,000 jobs, will entail providing electricity and other improvements to a hospital, building roads, upgrading housing and schools and supplying water to the local community.

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