EU and Guinea-Bissau Sign Agreement for Resilient Road Corridor Project

Strategic Insights -

The Republic of Guinea-Bissau and the European Investment Bank (EIB Global) have announced the signature and first stage implementation of the technical assistance cooperation agreement for the Guinea-Bissau Resilient Road Corridor project, a key component of the EU-Africa Global Gateway Investment Package. The agreement, worth up to €3.5 million, will provide technical assistance in areas such as procurement, environmental and social safeguards management, road safety, and climate resilience, ensuring the sustainability of the project.

Key Takeaways:

  • The Guinea-Bissau Resilient Road Corridor project is part of the Praia-Dakar-Abidjan Strategic Corridor, a flagship project under the EU-Africa Global Gateway Investment Package.
  • The technical assistance agreement will provide concrete support in key aspects such as procurement, environmental and social safeguards management, road safety, and climate resilience, ensuring sustainability.
  • The project aims to enhance mobility and trade in a sustainable and safe manner, currently being implemented by the European Investment Bank.
  • Subject to approvals, the project will benefit from a grant from the European Union and EIB financing in the coming months.
  • The cooperation agreement was signed by Guinea-Bissau's Minister of Finance Ilídio Vieira Té, EIB Vice-President Thomas Östros, and EU Commissioner for International Partnerships Jutta Urpilainen.
  • The project will rehabilitate a 115km section of the N2 road between Safim and the Mpack border crossing with Senegal, improving people's access to health and education, and enhancing economic activities along the corridor and beyond.

Statistics:

  • The technical assistance agreement is worth up to €3.5 million.
  • The project aims to improve the mobility of the local population, contributing significantly to Guinea-Bissau's regional integration efforts.
  • The project benefits from co-financing by the World Bank.
  • The EIB has provided more than €28 billion for innovative technologies, green energy, water, education, agriculture, telecoms, health, and business investment in 40 countries across Africa over the last decade.
  • Since the start of the pandemic, the EIB has provided more than €8.5 billion for new private and public investment across Africa.

Sources:

  • APO Group (https://apo-opa.info/3EUXa9V) - 5th UN Conference on Least Developed Countries (LDC5)
  • European Investment Bank (EIB)
  • European Union (EU)
  • World Bank