Jeddah, KSA, 2 March, 2017 - A US $210 million financing support
agreement was signed on March 2nd, 2017 at the Islamic Development
Bank (IsDB) headquarters between IsDB Group President, Dr. Bandar
Hajjar, and Guinea’s Minister of Planning and International
Cooperation, H.E. Kanny Diallo, who is also the IsDB Governor for the
country.

Under the document, the IsDB shall contribute US $210 million to the
Republic of Guinea for the construction of two regional integration
roads projects; the Dabola – Kouroussa road, and the Guekedou -
Kissoudougou - Kondembradou. Both projects aim to establish an
efficient connection between Guinea and neighboring countries
facilitating trade with Mali, Cote d’Ivoire, Sierra Leone and Liberia;
a major step forward for economic growth of Guinea that will greatly
contribute to the government’s
strategy for poverty eradication.

Other objectives of the projects are: enhancing the contribution of
the private transport sector to the economic development of Guinea
thanks to the national road network densification; enhancing transfer
of goods; persons and services in new mining areas of Upper Guinea and
the Forest Regions of the country; reduction of transport costs;
reinforcement of regional exchanges amongst Guinea, Liberia, Sierra
Leone; Cote d’Ivoire, and Mali; improving the living conditions of the
local populations
due to easier access to social facilities; as well as easier access to
main urban centers crossed by both projects.

During the meeting, Minister Kanny Diallo handed over a message from
the President of Guinea on the partnership with the IsDB Group. The
two also discussed the highlights of Guinea’s national socio-economic
development plan, which was recently drawn.

Minister Kanny Diallo invited the IsDB to participate in supporting
the plan and mobilizing resources for it in cooperation with the
Coordination Group.

She further expressed the Guineans President’s readiness to
cooperation with the IsDB in implementing economic development
projects in Africa as Guinea currently heads the African Union.

The IsDB Group President, for his part, welcomed cooperation with the
current President of the African Union in supporting the recommended
projects along the Trans-Sahara Road Project to help achieve the
socio-economic and facilitate creation of job opportunities for the
youth in the IsDB member countries.

With an active portfolio of 13 development projects in Guinea totaling
US $534 million, the IsDB’s accumulative development financing
contributions to the country stands at US $875 million covering
various projects in agriculture, infrastructure, industry, trade, and
human development.