Bank of Africa has arranged a $300 million international loan to help Guinea build a 160-kilometre road linking Labé, Banti, Tougué and the Bafing River. The project is part of the country’s transport infrastructure plan.
The deal is the first time Guinea has raised money through the international syndicated loan market. It is also the country’s first financing that includes Islamic finance, using a Murabaha structure alongside conventional funding. Part of the loan is guaranteed by the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC).
Bank of Africa United Kingdom PLC led the transaction as global coordinator and mandated lead arranger, bringing together several international financial institutions.
Finance and infrastructure officials signed the agreement in Conakry. Senior executives from Bank of Africa’s London and Dubai offices attended the ceremony alongside Morocco’s ambassador to Guinea, Issam Taib.
