Guinea-Bissau to get US$12 mln to spur recovery from pandemic

The African Development Bank (AfDB) will disburse US$12 million to help the economy of Guinea-Bissau to recover from the disruption caused by the COVID-19 pandemic, the office of Guinéan President Umaro Sissoco Embaló says.

The office issued a written statement saying AfDB President Akinwimi Adesina told the Guinéan President so in a meeting.

The AfDB has also approved the disbursement in the coming years of aid worth US$172 million for the development of Guinea-Bissau, the official statement quotes Mr Adesina as telling Mr Embaló.

Recently Guinéan Finance Minister João Fadia forecast that the Guinéan economy would shrink by 2.9 percent this year.