Financing is secured for road works in Guinea.
A new road project is being funded in Conakry, the capital of Guinea – image courtesy of © Erllre, Dreamstime.com
A key funding arrangement has been agreed by the Government of Guinea. The new loan is worth US$26 million and will help pay for construction work for the Bambeto and Cosa interchanges in capital Conakry.
The loan is being supplied by the Abu Dhabi Fund for Development (ADFD). Financing for the project has also been provided by the Islamic Development Bank, which supplied $52 million, as well as the Kuwait Fund, which provided $27 million.
The project will include building new tunnels as part of the construction of the interchanges and the work is expected to come with a total pricetag of $104 million. The project will help to improve traffic flow in Conakry by providing better links to and from the busy LePrince route.
