THE Abu Dhabi Fund for Development (ADFD), the economic development arm of the United Arab Emirates government that provides concessionary loans to fund economic and social development projects, has signed an agreement with the government of Guinea to provide a concessionary loan, of about $ 26 million, to finance the construction of a major interchange and roads in Conakry, the capital and largest city of Guinea.
The loan agreement was signed by Mohammed Saif Al Suwaidi, the Director-General of ADFD, and Mamady Camara, the West African country’s Minister of Economy and Finance in the presence of Abdullah Al Qubaisi, the Deputy Director-General of ADFD, and several senior officials from both sides.
The project will include the construction of interchanges, roundabouts, and tunnels designed to better connect service and feeder roads to the city’s main road dubbed the La Prince Road.
In addition to the funding support, ADFD will also provide ongoing consulting and engineering services throughout the implementation and delivery of the project for interchange and roads in Conakry.
Once completed, this project will significantly ease congestion in the city centre while connecting key urban areas integral to economic growth and improving overall road safety.
Speaking at the ceremony, Al Suwaidi said that ADFD has a long and successful history working with the government of Guinea and together they have developed high-impact projects across a number of sectors that are important to the country’s sustainable social and economic development.
‘This project for the construction of interchange and roads in Conakry will be a catalyst for continued economic growth while also helping improve the quality of life for the people living across the city,’ explained the Director-General of ADFD.