Guinea-Bissau and the European Investment Bank (EIB) have inked a €3.5 million deal which will see the EIB providing the country with technical assistance for the implementation of the Guinea-Bissau Resilient Road Corridor project.
The signing of the deal kickstarts the first stage of the project’s implementation which includes the rehabilitation of a 115 km section of the N2 road – the only paved road connecting the west African country with external markets.
Signed by H.E Ilídio Vieira Té, Finance Minister, Guinea-Bissau; Thomas Östros, Vice President EIB; and Jutta Urpilainen, the European Union’s Commissioner for International Partnerships, the deal will see the EIB supporting Guinea-Bissau with procurement, environmental and social safeguards as well as management, road safety, climate resilience and reporting aspects of the project.
The project, co-funded by the World Bank, represents part of the Praia-Dakar-Abidjan Strategic Corridor which designed to connect Cape Verde, Guinea-Bissau and Senegal.
Urpilainen stated that the project, which the EU is supporting as part of the EU-Africa Global Gateway will enhance connectivity between Guinea-Bissau’s capital and Senegal while also facilitating trade between Africa and Europe. H.E Vieira Té added that, “This project, as part of the Trans-West African Coastal Highway, should contribute to increasing intra-regional trade and economic efficiency while representing the main means of transport for most rural communities.”