Guinea ratifies €300 million loan for Labe–Tougue road — The Rio Times
Guinea ratified by decree a €300 million loan, or about $336 million, for paving the road between Labe and Tougue in the north of the country. The decree was read on national television, The Rio Times reports, citing the Guinean publication Guinéenews.
The financing agreement was signed on July 22, 2026, in the capital Conakry by Finance Minister Mariama Sire Silla and Infrastructure Minister Fachine Silla. According to the infrastructure minister, the agreement was to enter into force after ratification.
Financing and participants
Bank of Africa United Kingdom PLC, the London-based unit of Morocco's Bank of Africa, is the arranger of the syndicated loan. Africa Finance Corporation, ABC Islamic Bank, Bank of Africa, Bank of China, as well as banks from Kuwait and Abu Dhabi, are also participating in the financing.
The loan includes an Islamic finance tranche under the murabaha model, a cost-plus sale mechanism. Part of the loan is insured by the Islamic Corporation for the Insurance of Investment and Export Credit, ICIEC. Bank of Africa said this was Guinea's first entry into the international syndicated lending market.
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Road in the Fouta Djallon region
The project covers 148.86 km of national roads No. 27 and No. 28, as well as an 11.44 km branch from Banti to Koubia on Road No. 34. In total, about 160 km of roads are planned to be paved in the highland Fouta Djallon region.
The project also provides for the construction of a 200-meter bridge over the Bafing River with a bituminous concrete surface. Guinéenews reported in July that the work is to last 36 months, with Compagnie sahélienne d’entreprises as the contractor.
The Guinean government links the road project to the Simandou 2040 program, built around the development of the large Simandou iron ore deposit. The finance minister said the new road is expected to make it easier for farmers to access markets and reduce transport costs in a region with agricultural, livestock and mining potential.
