European Union to provide Guinea Bissau with 88 million euros between 2008 and 2014

28 June 2006

Bissau, Guinea Bissau, 28 June – The European Union (EU) plans to provide Guinea Bissau with a total of 88 million euros between 2008 and 2014, through the 10th European Development Fund, the EU delegate said in Bissau Tuesday.

Italy’s Franco Nulli said that the funding was a result of a decision by the 25 EU countries on funds for African, Caribbean and Pacific (ACP) countries, within the scope of which Guinea Bissau is being provided with tehf unds for projects related to development.

Nulli said that it was now up to the Guinean government to identify the priority projects for the financing, ideas which must be well defined this year.

Guinea Bissau’s Finance Minister, Vítor Mandinga, said that the government of Aristides Gomes already had some ideas formed, namely the construction fo two dams, which, when finished, would supply the country with power, one of Guinea’s biggest problems.

As well as this project, the minister said, another is outlined for the construction of a deep water port in Buba, some 240 kilometers to the south of Bissau, in order to distribute agricultural products and minerals, thus opening up the way to bauxite mining in the region.

The EU is Guinea Bissau’s main multilateral partner, and has carried out a number of initiatives in the country linked to cooperation. (macauhub)