ADB provides US$29 million for three projects in Guinea-Bissau

17 November 2015

The African Development Bank (ADB) has provided 19 billion CFA francs (US$28.97 million) to Guinea-Bissau to fund three projects, and the documentation was signedMonday in Bissau.

The projects covered, presented at a Brussels roundtable meeting last March, are “supporting reinforcement of good economic and financial governance”, “Support for accounting units” and “Improvement of electricity supply services to the city of Bissau.”

The Guinean Minister of Economy and Finance, Geraldo Martins, described the act as the fulfilment of the financial pledge by the ADB for some of the projects presented in Brussels.

Martins stressed the importance of such projects, which in his view will help the country improve management of public finances by improving mechanisms for monitoring and combating corruption.

“During the roundtable in Brussels, the ADB pledged to fund several projects in Guinea-Bissau,” recalled the minister, who stressed that the three projects now being funded were part of the strategic plan presented by the government at the time.

The ADB mission, headed by the regional representative for Guinea-Bissau, Mamadou Lamine Ndongo, will be have an audience in the next few days with Prime Minister Carlos Correia and the President of the Republic, José Mário Vaz. (macauhub/GW)