The World Bank will provide Guinea $503 million to finance 12 projects aimed at developing its power, mining, agriculture and infrastructure sectors. This was disclosed last Tuesday, on the national TV, by World Bank’s vice president Africa, Makhtar Diop, after meeting with President Alpha Condé.

The financial aid, which intends to support the economy’s diversification as it currently focuses more on sectors that gulps significant investment such as mining, will result in the creation of sustainable jobs and resources for the poorest households.

Reviewing the various projects financed by the Bretton Woods institution helped shed some light on progress made by Guinea. “We have reviewed portfolios putting a particular accent on the energy sector”, Diop said, satisfied of the results found.

According to the executive, the West African nation made some notable progress in terms of hydropower production, by building the Kaleta (240MW), Souapiti (500MW) dams and has many other micro-dams upcoming.

Fiacre E. Kakpo