Conakry, Guinea - The ECOWAS Commission chairman, James Victor Gbeho, and the Guinean government have signed a convention for US$30 million to help contribute to the improvement of the electricity network in the Guinean capital, Conakry.

A statement in Conakry on Wednesday said ECOWAS' contribution to the project, whose cost is estimated at US$105 million, included a non-repayable grant of 10 million dollars, with the remaining US$20 million to be repaid over 20 years.

The Guinean government was represented at the signing ceremony by the minister of Economy and Finance, Mr Kerfala Yansané; International Cooperation, Dr Koutoubou Moustapha Sanoh; the Senior minister in charge of Energy and Environment, Elhadj Papa Koly Kourouma; and the acting managing director of Electricity Company of Guinea (EDG), Dr Morlaye Bangoura. 

Since ECOWAS was set up in 1975, this is the first time it has granted a member country a loan for electrification.

Pana 14/07/2011