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The Republic of Guinea and BADEA Sign a US $ 8.4 million Loan Agreement
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 In
a ceremony held on Thursday 2nd December 2004, at BADEA’s Headquarters in
Khartoum, a loan agreement was signed between the Republic of Guinea and the
Arab Bank for Economic Development in Africa (BADEA). By virtue of this
agreement, BADEA extends to the Republic of Guinea a loan of US $ 8.4 million to
help finance Water Supply Project for Kissidougou, Beyla and Macenta regions.
The signing ceremony was attended by H.E. Mr. El Hadj Ousmane Camara Ambassador
Extraordinary and Plenipotentiary of the Republic of Guinea in Egypt, H.E. Mr.
Ahmed Abdallah Al-Akeil, Chairman of BADEA’s Board of Directors, and H.E. Mr.
Medhat S. Lotfy, the Director General of BADEA.
The Loan will be repaid in 30 years including a grace period of 10 years and at
an annual interest rate of 1%.
The project falls within the Government frameworks of National Programme for
provision of Drinking Water Supply in rural areas (2000-2015) and the National
Strategy for Rural Development. It is in accordance with the Poverty Alleviation
Strategy. It aims at reducing poverty and improving heath conditions through
provision of permanent and suitable drinking water.
Total commitments of BADEA, including this new loan to the Republic of Guinea
will amount to US $ 144.524 million. |
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