EBID signs €123.5 mln loan deals to boost agriculture, rural electrification in Guinea

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‎By: Adamu Aliyu Ngulde
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‎The ECOWAS Bank for Investment and Development (EBID) on Monday signed two loan agreements worth a total of €123.5 million with the Government of Guinea to modernise agricultural education and expand rural electrification.
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‎The agreements, signed in Conakry, underscore a joint push by EBID and the Guinean government to promote sustainable development and economic diversification across the West African nation.
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‎Under the deal, €28.3 million will be used to upgrade and modernise four agricultural high schools across Guinea’s four natural regions. The project aims to equip young Guineans with technical and entrepreneurial skills in agribusiness, strengthening the sector’s contribution to national growth.
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‎The second facility, worth €95.2 million, will finance the construction of three micro-hydroelectric power plants with a combined capacity of 27.6 MW in the Senegal River basin, notably in the prefectures of Mamou and Dalaba. The initiative aims to connect rural communities to the national grid, stimulate local economies, and improve living standards.
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‎“This dual investment empowers the next generation of Guinean leaders while enhancing clean energy access in remote areas,” said Dr. George Agyekum Donkor, President and Chairman of EBID’s Board of Directors. “It represents a critical step toward food security, inclusive growth, and improved quality of life.”
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‎Guinea’s Minister of Economy and Finance, Mourana Soumah, hailed the loans as part of a “renewed confidence” from development partners. “Energy and agriculture are strategic sectors for our country. These investments will strengthen training for youth and improve the electricity supply,” he said.
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‎Planning and International Cooperation Minister Ismael Nabe, who also serves as Guinea’s Governor to EBID, said the funding “reflects the trust placed in Guinea’s economic governance and EBID’s continued commitment to regional progress.”
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‎The ceremony also included the signing of a Memorandum of Understanding (MoU) covering five additional projects worth USD 665 million, focusing on energy, transport, infrastructure, and health.
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