KFAED signs 4 million dinars loan to boost Guinea’s urban infrastructure

The Kuwait Fund for Arab Economic Development (KFAED) has signed a loan agreement worth 4 million dinars to support the construction of the “Enko 5” interchange project in Conakry, the capital of Guinea.

This happened during the annual — what is known as — Spring Meetings of the World Bank and the International Monetary Fund held in Washington, D.C.
The project is designed to ease traffic congestion and improve transportation flow along major roads, particularly during peak hours. It represents a vital investment in Guinea’s urban infrastructure and economic mobility, reports Al-Jarida daily.

The loan agreement was signed by Guinea’s Minister of Economy and Finance, Morana Soumah, and KFAED’s Acting Director General, Waleed Shamlan Al-Bahar.

This initiative contributes to several United Nations Sustainable Development Goals (SDGs), including Goal 1 (No Poverty), Goal 8 (Decent Work and Economic Growth), Goal 9 (Industry, Innovation, and Infrastructure), Goal 11 (Sustainable Cities and Communities), and Goal 17 (Partnerships for the Goals).