Africa News Guinea Conakry: AFD grants funding of 10 million euros...

Guinea Conakry: AFD grants funding of 10 million euros to the National Fund for Local Development

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(Agence Ecofin) – The French Development Agency (AFD) has granted funding of 10 million Euros to the National Agency for Local Government Financing (Anafic) of Guinea.

This Guinean public body will inject this resource into the National Fund for Local Development (FNDL), which will finance the local authorities and strengthen the capacities of the deconcentrated and decentralized administrations of the country.

Part of this money will be used to finance investment programs set up each year by local authorities. Rima Le Coguic (photo), director of AFD's Africa department, announced last December the financial institution's intention to commit more than 500 million to finance the country's national economic and social development plan.

Present in Guinea Conakry for 40 years, the AFD granted in 2018 an amount of 100 million euros to this country of West Africa. For the current year, this French public institution plans to grant 130 million euros to Guinea with additional subsidies.

Chamberline Moko

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