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PRESS ADVISORY HEAD OF IFC TO VISIT MOZAMBIQUE


Amy Conran
Phone: (202) 473-9119
Fax: (202) 676-0365
E-mail:ACONRAN@Worldbank.org



WASHINGTON, D.C., Jan. 18 -- Mr. Jannik Lindbaek, Executive Vice President of the International Finance Corporation (IFC), will lead an IFC delegation to Mozambique from 21 to 24 January 1996. The IFC delegation will consult with government and industry leaders on initiatives to encourage private sector development and discuss IFC's ongoing activities in Mozambique. This is Mr. Lindbaek's first official visit to Mozambique. IFC is a member of the World Bank Group and is the largest multilateral source of equity and loan financing for private sector projects in developing countries. The Corporation has invested US$14 million in Mozambique's private sector and is expected to invest US$10 million in fiscal year 1996. IFC has also structured several privatization transactions in Mozambique and has assisted the government formulate its foreign investment regulations. IFC's investment and advisory work in Mozambique will continue to focus on developing natural resources, financing small and medium enterprises, assisting recently privatized companies, and strengthening the financial sector. During his stay in Mozambique, Mr. Lindbaek will meet with senior government officials and business representatives including the Prime Minister, His Excellency Mr. Pascoal Mocumbi; the Minister of Planning and Finance, His Excellency Mr. Tomaz Salomão; the Minister for Industry Commerce and Tourism, His Excellency Mr. Oldermiro Baloi; and the Governor of the Bank of Mozambique, His Excellency Mr. Adreano Afonso Maleiane. Mr. Lindbaek will hold a press conference at 4:30 p.m., January 23, at the World Bank Office in Maputo. Accompanying Mr. Lindbaek will be Ms. Carol Lee, Vice President and General Counsel, Mr. Tei Mante, Director of IFC's Sub-Saharan Africa Department, Mr. Mwaghazi Mwachofi, IFC's Regional Representative for Southern Africa based in Harare, and Ms. Suellen Lazarus, Special Assistant to the Executive Vice President.