The ECOWAS Bank for Investment and Development (EBID) and the government of the Republic of Guinea have signed two loan agreements totalling €123.45 million to enhance agribusiness education and expand access to clean, reliable energy.

The bank disclosed in a statement on Tuesday in Lagos that the strategic partnership was signed on November 10, 2025, in Conakry, to underscore a shared commitment to sustainable development and economic diversification.

It added that the two facilities would finance critical infrastructure projects in Guinea, such as a €28.28 million loan to finance the improvement and modernisation of four agricultural high schools.

The statement said the transformative initiative seeks to upgrade and modernise existing agricultural high schools spanning the four natural regions of Guinea.

The project is designed to equip young people with the technical knowledge and entrepreneurial skills necessary to become vital actors in the agricultural industry, thereby boosting the sector’s contribution to the national GDP.

Also, a €95.16 million loan will be allocated towards the construction of three microhydroelectric power plants with a total capacity of 27.6 MW within the Senegal River Basin.

It noted that the project, situated in the prefectures of Mamou and Dalaba, would connect rural areas to the national grid, thereby expanding economic activity and improving the living conditions of the population.

It falls within the framework of the objectives of the Organisation pour la Mise en Valeur du fleuve Sénégal and the National Development Plan of Guinea, also known as the SIMANDOU 2040 vision, which combines local development, environmental sustainability, and economic viability.

At the signing ceremony, George Donkor, the president and chairman of the Board of Directors of EBID, noted, “By investing in agricultural education, the bank is empowering the next generation of Guinean leaders and entrepreneurs, ensuring food security and economic growth.”

“Simultaneously, this investment in clean energy infrastructure enhances the delivery of essential services to remote communities, resulting in improving the quality of life for the people of Guinea.”

The Minister for Economy and Finance, Mourana Soumah, emphasised that the agreements were part of a development dynamic marked by renewed confidence in Guinea from technical and financial partners.

“Energy and agriculture are two strategic sectors for our country. These investments will improve electricity supply and strengthen training for young people in the agricultural sector,” the minister noted.

Also, the Guinean Minister for Planning and International Cooperation, Ismael Nabe, representing the EBID governor, reiterated that the financing reflects the deep confidence placed in Guinea’s economic and financial governance.

Mr Nabe added that the financing reflects the bank’s ongoing commitment to regional development.

The ceremony was preceded by the signing of a memorandum of understanding between EBID and the government of Guinea to support five key projects amounting to $665 million in the areas of energy, transportation, infrastructure, and health.

(NAN)