EBID and the Government of Guinea Sign Landmark Loan Agreements Worth USD 63 Million

In a significant milestone, Dr. George Agyekum Donkor, President and Chairman of the Board of Directors of EBID, and Honourable Mourana Soumah, Minister for the Economy and Finance of the Republic of Guinea, signed two loan agreements totaling USD 62.77 million. These agreements mark the first phase of a comprehensive accord in the amount of USD 307 million aimed at strengthening infrastructure and rural development in Guinea.

The two facilities will finance critical water infrastructure projects in Guinea, namely:

1. A USD 28.4 million loan to provide drinking water supply systems to 205,204 people in the towns of Beyla, Fria, and Koubia by 2035.
2. A USD 34.3 million loan to build 150 boreholes equipped with hand pumps and deliver 100 drinking water supply systems in Upper Guinea and Forest Guinea, improving living conditions for local populations.

In his remarks, Hon. Mourana Soumah emphasized the importance of strengthened local governance and community involvement in managing water infrastructures, to support a sustainable development model. Dr. George Agyekum Donkor reaffirmed EBID's commitment to supporting Guinea's socio-economic development, aligning with the Bank's 2021-2025 strategy and the United Nations' Sustainable Development Goals (SDGs).

These agreements bring EBID's commitments in Guinea to approximately USD 284.5 million, demonstrating the Bank's dedication to supporting the country's national development plan, PNDES II 2021-2025, and the development programs of all ECOWAS member states.