UK Export Finance signs $2 billion for Guinean projects
By the AFREEQUE newsroom, based on Africaguinée
Guinean Planning and International Cooperation Minister Ismaël Nabé says £1.8 billion, or about $2 billion, in financing has been signed through UK Export Finance. The funds are intended to support Simandou 2040 projects in water, roads, electricity and education, according to the minister at the Trade and Investment Forum in Conakry.
Guinea has signed financing agreements with UK Export Finance worth £1.8 billion, or about $2 billion, for projects under the Simandou 2040 programme, Planning and International Cooperation Minister Ismaël Nabé announced in Conakry on Tuesday 20 October. The agreements still need to be ratified by the National Assembly.
The funds are expected to support, among other things, the construction of an administrative city and projects involving access to drinking water, roads, electricity and education. Nabé also announced that UK Export Finance, the UK’s export credit agency, was expected to present a new funding envelope to strengthen Guinea’s financing capacity, without disclosing its amount.
The announcement follows discussions Guinea held with the African Development Bank on financing for the Simandou 2040 programme on 12 October, and then on three deep-water port projects on 15 October.
Summary produced with the help of artificial intelligence tools, under AFREEQUE’s editorial responsibility.
