US investment body to provide funds Anna Cox AN AMOUNT of $29,6 million will be invested in the Nacala railroad and port rehabilitation project in Malawi. The governments of Malawi, Mozambique and Zambia recently signed a memorandum of understanding for joint cooperation in Washington with a US investment body, the Overseas Private Investment Corporation (Opic), which will provide the money for the rehabilitation of the Nacala Development Corridor which runs from the Indian Ocean in northern Mozambique through Malawi to Eastern Zambia. Once complete, the project is expected to bring food and fuel at better prices to the people of all three countries and to have a multiplier effect on transport costs, as well as encourage investment in areas such as agriculture and mining in the three countries. Opic is a federal agency which fosters economic development in new markets and aims at promoting long-term economic success for Africa through providing additional food, shelter and transportation for Africans.
Nacala corridor gets multi-million rand cash injection
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