Local flour distributors and users will benefit from a local source of high-quality flour. Additional benefits will accrue from diversification of economic activities in the country, which is still heavily dependent on mining revenues. Guinea will further benefit from the transfer of modern technology and superior quality-control techniques in flour processing treatment. The project will create approximately 70 jobs for Guineans, who will receive administrative and technical training. In addition, the project will sponsor university training programs and events for the local community.
Workers load sacks of flour for shipment to local distributors.
Sector Total FDI Soc. In this region, which includes Angola, Botswana, Comoros, Lesotho, Madagascar, Malawi, Mozambique, Namibia, South Africa, Swaziland, Zambia and Zimbabwe, MIGA has issued 14 guarantees. Sectors covered include financial services, manufacturing, and tourism. In addition, MIGA is working with other parts of the World Bank Group and the Government of Tanzania on the development of a special Currency Convertibility Fund in conjunction with the Songo Songo gas project. The fund is designed to provide currency convertibility protection to the project investors.