Wednesday, 27 August 2014

World Bank Insures US$124m For Private Sector Investment In Zambia

Michel Wormser addressing journalists
By Paul Shalala

The World Bank says Zambia's attractive investment climate has seen its Multilateral Investment Guarantee Agency (MIGA) insuring one hundred and twenty four million dollars of investment from the private sector.

MIGA Vice President Michel Wormser (right)  says most of the investment guarantees are in the agriculture sector where the World Bank wants to promote diversification.

Mr Wormser says more than 80 million dollars has been guaranteed for the agriculture sector in Zambia where the Bretton Woods Institution is already supporting ranching.

He has revealed that the World Bank is currently in talks with Zesco, the Copperbelt Energy Corparation and government to increase power generation in Zambia.

Mr Wormser says increasing Zambia's electricity generation has the potential to supply power to both the Southern and East Africa regions.

He was speaking at a media briefing in Lusaka on Monday.

The MIGA Vice President wass on a 2 day visit to Zambia to meet government officials and the private sector to help mobilise money for capital projects in the mining, energy and agribusiness sectors.

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