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Publish Date : 16-Dec-2014

The European Investment Bank have decided to finance crucial upgrades to four hydropower plants in Guinea, West Africa. The cash will be used towards redevelopment of facilities in Grand Chutes, Donkea, Baneah and Garafiri, boosting overall capacity to 122MW from 75MW. Upgrades would also include two substations located in Sonfonia and Kipe and an electricity distribution site in Conakry.

Guinea has been affected by the Ebola outbreak and even though location of the schemes are not in the areas most affected by the virus, once operational the sites will help in strengthening medical treatment and economic activity. 38% of the required funds will be provided by the EIB, alongside the Republic of Guinea, the Islamic Development Bank, Kuwait Development Fund, World Bank and African Development Bank.

EIB vice president Pim van Ballekom said, “West Africa faces huge energy challenges and the EIB is committed to supporting investment across Africa that both supports economic activity and improves lives.”

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