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Guinea: Transitional government and African Development Bank Group sign $28 million loan agreement for agropastoral development, digitization and market access

The African Development Bank Group (www.AfDB.org) signed an agreement with the transitional government in Guinea for a $28 million loan to support agropastoral development, digitization and market access in the West African country.

The Bank's Country Manager in Guinea, Léandre Bassolé and the Guinean Minister of the Economy and Finance, Moussa Cissé, signed the agreement in Conakry on 3 August 2023. The Minister of Planning and International Cooperation, Rose Pola Pricemou and the Minister of Agriculture and Livestock Farming, Mamoudou Nagnalen Barry, attended.

The Project to Support Agropastoral Development, Digitization and Market Access in Guinea was approved on 14 July 2023 by the Bank Group's Board of Directors. It aims to improve the contribution of agriculture to Guinea's economic development while ensuring food and nutritional security for rural households and enhancing their incomes, financial inclusion, and resilience to climate change.

Specifically, the project promotes the production of maize and soya for processing into poultry and livestock feed, and the development of processing and marketing infrastructure for the two target sectors, including grazing facilities. It will help strengthen resilience to climate change among agricultural producers and livestock farmers, support women's empowerment and reduce vulnerabilities and inequalities between men and women in agriculture.

Mr Cissé highlighted the project's innovative nature, particularly in digitization and financial inclusion, saying it will guarantee better access to information and a more secure income for producers. He urged the key actors involved, including the project management unit, to act diligently and show dexterity in implementing the project.

He expressed the government's appreciation to the Bank for its support for development efforts in Guinea. "We are delighted with the quality of our cooperation and the impact the project will have on the people of Guinea, not only through improving food and nutritional security but also the incomes of agricultural producers and livestock farmers," said Minister Cissé, who is also the Bank's Country Governor.

Bassolé expressed his delight with the project's expected impact on the livelihoods in Guinea and urged officials involved in its implementation to use the resources mobilized judiciously. He also thanked the Guinean government's cooperation with the Bank, particularly during the preparatory stages of the project.

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

Media contact:
Alexis Adélé
Communication and External Relations Department

About the African Development Bank Group:
The African Development Bank Group is Africa's premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information: www.AfDB.org

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