US$ 26mn roads improvement programme will contribute to country’ economic growth
Abu Dhabi Fund for Development (ADFD), the economic development arm of the UAE government, recently signed an agreement with the Government of Guinea to provide a concessionary loan valued at AED 95.5mn (US$ 26mn) to finance developing a major interchange and roads project in the heart of Conakry, the nation’s capital city.
The project will include construction of interchanges, roundabouts and tunnels designed to better connect service and feeder roads to the city’s main thoroughfare, La Prince Road. In addition to funding support, ADFD will provide ongoing consulting and engineering services throughout the successful implementation and delivery of the project.
The loan agreement was signed by Mohammed Saif Al Suwaidi, Director General, ADFD, and Mamady Camara, Minister of Economy and Finance in Guinea in the presence of Khalifa Abdullah Al Qubaisi, Deputy Director General of ADFD, and several senior officials from both sides.
“This new interchange development project will be a catalyst for continued economic growth while also helping improve the quality of life for people across the city,” remarked Al Suwaidi.
“Conakry is central to our economic diversification strategy, further development of manufacturing and industrial sectors and to supporting the growth of SMEs,” commented Camara.