Guinea-Bissau to get US$12 mln to spur recovery from pandemic

18 December 2020

The African Development Bank (AfDB) will disburse US$12 million to help the economy of Guinea-Bissau to recover from the disruption caused by the COVID-19 pandemic, the office of Guinéan President Umaro Sissoco Embaló says.

The office issued a written statement saying AfDB President Akinwimi Adesina told the Guinéan President so in a meeting.

The AfDB has also approved the disbursement in the coming years of aid worth US$172 million for the development of Guinea-Bissau, the official statement quotes Mr Adesina as telling Mr Embaló.

Recently Guinéan Finance Minister João Fadia forecast that the Guinéan economy would shrink by 2.9 percent this year.

(Source) Permanent Secretariat to the Forum for Economic and Trade Co-operation between China and Portuguese-speaking Countries (Macao):