Funds pledged to Guinea-Bissau at Brussels roundtable due to start arriving

29 June 2015

Part of the financial support to Guinea-Bissau announced by the international community at a recent round-table meeting in Brussels will start arriving in the coming months, said the Guinea-Bissau Minister of the Economy and Finance.

“Some partners have said we can count on specific support in the coming times, in 2015 and even in 2016,” said Geraldo Martins speaking to UN Radio in New York, giving the example of the Peace Building Commission, which pledged to unlock US$10 million.

During the Brussels roundtable, the international community pledged support for development projects in Guinea-Bissau of up to US$1.5 billion.

The minister said that a mission of the Islamic Development Bank (IDB) would travel to Guinea-Bissau at the end of Ramadan to identify projects that the institution pledged to fund at the Brussels roundtable.

Martins was recently on mission in Mozambique, Portugal and in the United States and in Mozambique attended the annual meeting of the Islamic Development Bank.

A delegation from the Arab Bank for Economic Development in Africa (BADEA) is also scheduled to visit Guinea-Bissau, which may be headed by the BADEA president.

The purpose of the visit by BADEA to Guinea-Bissau is similar to that of the IDB, which is to find out more about the projects for which it pledged to provide US$20 million at the Brussels meeting.

The minister also said that on his visit to Portugal, specifically in the city of Braga, he met with a group of Portuguese businesspeople with which he discussed business opportunities in Guinea-Bissau. (macauhub/GW)