The Mauritius Investment Corporation (MIC) was established in June 2020 during the pandemic to assist in the economic recovery of Mauritius. MIC is fully owned by the Bank of Mauritius and is aligned with its mandate of ensuring an orderly and balanced economic development of the country as well as safeguarding the stability and soundness of the financial system. As of December 2021, the fund had approved investments in 38 domestic assets engaged in hospitality, retail and consumer and financial services.