Maputo, Mozambique – Mozambique and the World Bank have signed a one billion dollar deal to carry out high level investments in tourism based on four anchor locations yet to be identified along the southern African countryā€™s picturesque 2,500-km coastline.
Tourism Minister Fernando Sumbana told the APA on Thursday that the International Finance Corporation (IFC), a World Bank arm, is set to support the Mozambican government in the projectā€™s implementation.

He said the Tourism Anchor Investment Program, which is a joint initiative of the IFC and the Mozambican Tourism Ministry, has secured four locations on the Indian Ocean coast, which are expected to generate one billion dollars in investment for Mozambique, and create 25,000 direct and indirect jobs in the process.

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

“We see this project as a platform to help develop and preserve protected areas, provide international visibility for Mozambique and be a driver of the tourism economyā€¯ in the region, he said.

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

Mozambique is aggressively investing in its tourism sector as part of its preparations to host the bulk of the 600,000 tourists who will be descending on southern Africa to watch the month-long 2010 FIFA World Cup finals in South Africa.

Source: APA