The ECOWAS Bank for Investment and Development (EBID) and the Republic of Guinea have formalised a memorandum of understanding to deepen cooperation on financing priority development projects.
The agreement was signed on 8 April 2026 in Accra, on the sidelines of EBID’s 24th Annual General Meeting of the Board of Governors. It was endorsed by Dr George Agyekum Donkor, President and Chairman of EBID’s Board of Directors, and Ismael Nabé, Guinea’s minister of Planning, Development and International Cooperation.
Under the terms of the agreement, EBID will support six priority projects with a combined estimated value of more than €310.5m and $387.9m. These investments form part of Guinea’s National Development Plan, Simandou 2040, and are aimed at accelerating structural transformation across key sectors.
The projects cover transport infrastructure, renewable energy, agriculture and food security, land administration and public sector modernisation. Planned initiatives include the development of major road infrastructure in Conakry, programmes to support agricultural mechanisation and poultry value chains, the modernisation of land cadastre systems, and the construction of 80 megawatts of photovoltaic solar power plants across four regions.
Speaking at the signing ceremony, Dr Donkor reaffirmed EBID’s commitment to supporting Guinea’s economic transformation through high-impact investments designed to promote inclusive growth, resilience and regional integration.
Minister Nabé described the agreement as a significant step forward for the country’s development agenda, highlighting the importance of rapid implementation to deliver tangible benefits for citizens.