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Bloomberg

World Bank Arm Backs $400 Million Mozambique Transmission Plan

The International Finance Corp., a member of the World Bank Group, agreed to provide development funding for a transmission line to strengthen Mozambique's grid. British International Investment Plc's Gridworks Development Partners LLP and state-owned Electricidade de Moçambique are developing the $400 million Chimuara-Nacala line, the first privately financed transmission project in the southern African nation.