IMF Grants $7.3M Credit Facility to Guinea-Bissau
The IMF projects Guinea-Bissau’s economy to grow by 5% in 2024.
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The IMF projects Guinea-Bissau’s economy to grow by 5% in 2024.
In addition to the donation, the Presidents of Guinea-Bissau and China signed a bilateral agreement focused on economic development.
The joint commission will advance cooperation in the agriculture, mining and energy sectors between Mozambique and Guinea-Bissau.
Rural Areas of Guinea Bissau are set to receive electricity through off-grid solar technologies through a project called the Regional Off-Grid Electricity Access Project
The World Bank will support the development of the first solar power plants in Guinea-Bissau with a $35 million grant.
N-Soft’s technology will allow Guinea-Bissau to manage all transactions within the mobile money, financial and telecommunications sectors.
Guinea-Bissau and Russia are set to collaborate on developing bauxite mining and oil exploration in Guinea-Bissau.
Amid expected increase in hydrocarbon exports, Guinea-Bissau modernizes Bissau Port for efficiency and growth.
This funding, set for disbursement pending approval in May, is part of Guinea-Bissau’s Extended Credit Facility program launched in 2023 to support the country’s economy.
The contract includes the supply of an ultra-deepwater drilling rig and consulting services.