World Bank grants two loans to Guinea Bissau

11 May 2011

Dakar, Senegal, 11 May – The World Bank plans to provide Guinea Bissau with two loans to improve protection of its fishing resources and create three national parks, said McDonald Benjamin, coordinator of the World Bank programmes for Guinea Bissau, in Dakar, Senegal.

A first loan of US$8 million will be used to fund satellite observation and patrolling of the coast in order to put an end to illegal fishing in the country.

A second loan worth US$9.5 million is intended to be used to set up three national parks which, according to Benjamin, will be the beginning of Guinea Bissau’s tourist development.

Guinea Bissau’s ambassador to Senegal, Mário Leopoldo Cabral, said that the two loans would help his country to leave behind an economy centred on one product: cashew nuts. (macauhub)