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The Export-Import Bank of China has approved US$1.
3 billion in financing for a 450 MW hydropower plant in
Guinea.
The Guinean government wants the project to allow it to export electricity
to neighboring countries.
Guinea's hydropower station received a US$1.
3 billion loan from the Export-Import Bank of China
In 2007, the Export-Import Bank of China first agreed to finance the construction of the Soapeti hydropower plant, about 50 kilometers outside the capital Conakry, but construction did not begin due to a period of political instability in Guinea
.
China Hydropower (CWE) began construction of the hydropower plant in December 2015, when the government said it expected construction to take five years
.
On March 13, the Guinean government said in a statement: "The signing of the loan agreement will take place soon, which will accelerate the construction work already underway
.
”
A senior adviser to Guinean President Alpha Conté said the loan would be repaid
through the sale of electricity to neighboring countries.
According to USAID, although Guinea's 12 major rivers have significant hydropower potential, only about one-quarter of the population has access to electricity
due to infrastructure failures and mismanagement.
Guinea has about 1/3 of the world's bauxite reserves and has increased its production over the past few years, but Guineans often complain that mineral resources have not improved living standards
.
，
The Export-Import Bank of China has approved US$1.
3 billion in financing for a 450 MW hydropower plant in
Guinea.
The Guinean government wants the project to allow it to export electricity
to neighboring countries.
Guinea's hydropower station received a US$1.
3 billion loan from the Export-Import Bank of China
3 billion loan from the Export-Import Bank of China
In 2007, the Export-Import Bank of China first agreed to finance the construction of the Soapeti hydropower plant, about 50 kilometers outside the capital Conakry, but construction did not begin due to a period of political instability in Guinea
.
China Hydropower (CWE) began construction of the hydropower plant in December 2015, when the government said it expected construction to take five years
.
On March 13, the Guinean government said in a statement: "The signing of the loan agreement will take place soon, which will accelerate the construction work already underway
.
”
A senior adviser to Guinean President Alpha Conté said the loan would be repaid
through the sale of electricity to neighboring countries.
According to USAID, although Guinea's 12 major rivers have significant hydropower potential, only about one-quarter of the population has access to electricity
due to infrastructure failures and mismanagement.
Guinea has about 1/3 of the world's bauxite reserves and has increased its production over the past few years, but Guineans often complain that mineral resources have not improved living standards
.
，
