UAE - Mubasher: The Abu Dhabi Fund for Development (ADFD) has inked an agreement to grant a AED 95.5 million ($26 million) concessionary loan to the government of Guinea to finance developing an interchange and roads project in Conakry, Guinea's capital city.
Upon its completion, the project will ease congestion in Conakry's center while connecting key urban areas integral to economic growth, according to a press release on Monday.
Alongside the funding support, ADFD will offer ongoing consulting and engineering services throughout the implementation and delivery of the project.
The Director-General of ADFD, Mohammed Saif Al Suwaidi, said: "Together we’ve developed high-impact projects across a number of sectors that are important to the country’s sustainable social and economic development."
Meanwhile, the Minister of Economy and Finance in Guinea, Mamady Camara, remarked: "While agriculture and minerals represent important economic sectors for the country, Conakry is central to our economic diversification strategy, further development of manufacturing and industrial sectors and to supporting the growth of SMEs."
