2023-07-14 21:06:18
The national councilors examined and adopted a financing agreement in the field of energy between the Republic of Guinea and the Islamic Development Bank (IDB). This is the financing of the project to improve access to electricity in Guinea (PAAEG).
Signed on May 12, 2023 as part of the improvement of electricity supply, the CNT examined and adopted the framework agreement and the mandate agreement between the Islamic Development Bank (IDB) and Guinea. This financing agreement concerns an amount of 90 million USD, repayable in 20 years with a grace period of 4 years.
The councilors present at this plenary session of this Friday, July 14, 2023, unanimously adopted this agreement. But first, the rapporteur, Fatima Camara, gave her colleagues good reasons: “In order to enable the Government, through this IDB Financing Agreement, to partially meet the energy infrastructure needs of the rural world on the one hand, and on the other hand to fight once morest the low rate of access to electricity and the institutional weaknesses of the electricity sector, the Planning, Financial Affairs and Budgetary Control Commission invites you to authorize its ratification. »
The amount will be used for the expansion and rehabilitation of electricity distribution networks. It should be noted that this directly concerns the following localities:
– City of Siguiri center and 41 surrounding localities;
– 46 localities surrounding the city of Kankan;
– Town of Télémélé and 14 surrounding localities;
– Certain districts of the municipality of Ratoma.
Aly Seydouba Soumah, Minister of Energy, Hydraulics and Hydrocarbons
“It’s a logical next step. Just a month ago, we held the assembly of the energy sector and the ratification authorization agreement comes at the right time, because it is one of the projects identified, to not only increase, but also increase the electricity generation capacity in Guinea. In addition to the ongoing projects, there is the Guinea-Mali interconnection project, which covers the areas of Siguiri, Kankan, Dabola, the main post of which is in Linsan,” explains the Minister of Energy and Hydraulics. .
This loan is subject to the principles of Islamic finance.
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