Guinea mobilizes an additional $7 billion to finance strategic infrastructure projects
Rédigé par leral.net le Mardi 27 Février 2024 à 14:59 | | 0 commentaire(s)|
SF Capital LTD is delighted to have contributed to this success by supporting the government of the Republic of Guinea in raising €650 million to finance the National Decongestion Program of Guinea - PNDG. This program involves the construction of thousands of kilometers of roads by over 200 local companies and is expected to generate nearly 40,000 jobs. This achievement is another step towards SF Capital's vision of "building the Africa we want."
In Dubai, the Guinean authorities' roadshow is crowned with success in the United Arab Emirates with a total of $7 billion raised. This amount will be allocated to finance infrastructure projects, primarily through public-private partnerships (PPP). The announcement was made by the outgoing minister, Ismael Nabe, advisor to the Prime Minister of Guinea in charge of investments and public-private partnerships.
"The curtains have fallen on the grand roundtable organized in Dubai to mobilize Guinea's donors and partners for the financing of the Interim Reference Program (PRI). A highly successful event, with the government securing a commitment of $7 billion compared to the previously expressed financing need of $4 billion," notes a statement from the Guinean Ministry of Economy, Finance, and Planning.
Furthermore, Conakry's envoys did not come to Dubai - on February 15 and 16, 2024 - in vain. They return with the necessary funds to finance programs in areas such as water, electricity, healthcare, roads, etc., in a country with abundant natural resources (2/3 of global reserves of bauxite, gold, diamonds, iron, manganese, zinc, cobalt, nickel, uranium), but where its citizens do not fully benefit from these riches. Multilateral banks and development financing institutions have pledged to disburse these funds.
"This substantial amount reflects the confidence of partners and their willingness to support the country in implementing investment projects and programs that can improve the living conditions of the Guinean population."
It should be noted that agreements have been signed with the African Development Bank (AfDB), the World Bank, the Islamic Development Bank (IDB), and other development financing institutions.
Additionally, it has been learned that the promised funds to Guinea are intended to finance 55 infrastructure projects. These projects are part of the Transition PRI 2022-2025, whose main goal is to strengthen the country's resilience in the face of political, economic, societal, and environmental fragility factors.
Note that Guinea, a victim of political fragility, has been in a transition phase since September 5, 2021, when President Alpha Condé was arrested following a coup led by Colonel Mamady Doumbouya.
Daouda Bakary KONE
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