President of Guinea Bissau thanks donors for funding at Geneva round table

10 November 2006

Bissau, Guinea Bissau, 10 Nov – Guinea Bissau’s president, Nino Vieira thanked all the countries and international organizations that have or will help Guinea Bissau, by providing funds to support the country’s efforts to overcome its political and financial crisis.

Speaking to journalists on his arrival in Bissau, after an official visit to China, Vieira applauded the results achieved at the Geneva round table meeting, at which the Guinean government managed to get pledges for funding totaling US$262.5 million.

In Geneva, Guinea Bissau presented two strategic documents to fulfil the country’s needs, both in terms of macroeconomic stability and public finances, as well as the Three-Year Investment Program and the reform program for the Defense and Security services. These measures require total funding of US$441 million.

The remaining US$178.5 million needed have been pledged by donors, including Portugal, which contributed US$10 million, and if Guinea Bissau’s financial performance is considered satisfactory the funding will be made available in 2007.

The president of Guinea Bissau, who began an official visit to China at the end of October, received guarantees from the Beijing government of greater support for development, particularly for the construction of a hospital in Bissau, and a new Palace of Justice, as well as contributing to the construction of a Government palace in the capital.

China also agreed to build a dam on the Geba river, some 200 kilometers southwest of Bissau, as well as granting the country US$9 million to support development. (macauhub)