Guinea-Bissau: Two aid accords signed with Portugal

10 March 2008

Bissau, Guinea-Bissau, 10 March – Portugal and Guinea-Bissau on Friday signed a pair of cooperation pacts under which Lisbon will support Bissau’s state budget with 2 million euros and give technical assistance to Guinea’s state financial services to the tune of 1.5 million euros.

The accords were inked by Portugal’s state secretary for finance and the treasury, Carlos Costa Pina, and Guinean Finance Minister Issuf Sanhá.

Pina said the cooperation pacts showed the importance of Portugal’s relations with Guinea and Lisbon’s “confidence in institutions that must be reinforced and supported.”

In reply, Sanhá described the two accords as “the expression of the political will of Portugal’s government to contribute to stability of state finances” in Guinea.

“The country is in a difficult situation characterized by deep financial imbalances, a result of the 1998 conflict, which was followed by a period of almost total destruction of our administration,” noted Guinea’s finance minister. (macauhub)