
$66.4 Million AfDB Funding Package Boosts Electrification in Rural Guinea-Bissau
Some 100,000 people in Guinea-Bissau are set to benefit from the AfDB-financed Guinea Power Access Improvement Project.
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Some 100,000 people in Guinea-Bissau are set to benefit from the AfDB-financed Guinea Power Access Improvement Project.
As Guinea-Bissau pushes for an ambitious post-pandemic recovery, a new $30m financing package from the AfDB could be a gamechanger for the nation.
The Ministry of Natural Resources and Energy of Guinea-Bissau has completed productive discussions with Energy Capital & Power in preparation for this year’s MSGBC Oil, Gas & Power Conference, looking to drive FDI in the sector.
Energy developments are set to advance Guinea-Bissau’s economy in 2022 but policy reform measures and investment remain key to unlocking the country’s full growth potential.
FAR has provided its notice of withdrawal to the Government of Guinea-Bissau and operator Petronor under the relevant agreements.
The financial package will be directed towards infrastructure, budget and governance.
Significant energy shortages have led to the west-African nation exploring renewable energy solutions.
Guinea-Bissau is undoubtedly one of Africa’s richest countries when it comes to natural resource endowment.
The Government of Guinea Bissau and Petroguin are eager to position the country as an important player in the MSGBC Basin.
Growing FDI into Guinea-Bissau’s strategic mining sector is boosting export capabilities and supporting strong real GDP growth.