African Development Bank grants over 37 million USD for infrastructure in Guinea
22 February 2011
The African Development Bank (ADB) has just signed a number of financing agreements with the government of Guinea amounting to a total of 37.6 million dollars.
These funds are destined for several energy and social development infrastructure projects in Guinea, notably with 23.4 million dollars being allocated to a rural electrification project and 2.6 million dollars for a survey on the interconnection of the electricity grid between Guinea and Mali, reports a press release from the institution published by the newspaper Le Jour Guinée.
A further 7.8 million dollars will be allocated to the sustainable social development project in Upper, Middle and Forest Guinea and 11.8 million dollars will support and strengthen economic and financial management.
Earlier this month, the African Development Bank also granted a line of credit of 300 million dollars to the Southern African Development Bank (SADB), so that it can grant more loans for infrastructure projects within the SADC, reports the newspaper Les Afriques.