During the Beijing Summit of the Forum on China-Africa Cooperation, the Guinean government, represented by its Ministry of Economy and Finance, signed the loan agreement for the Souapiti Hydroelectric Project with the Export-Import Bank of China, in the presence of Prof. Alpha Conde the President of Guinea and Mr. Xie Ping the vice president of China Eximbank, on September 4, 2018. According to the agreement, China Eximbank will provide a preferential export buyer’s credit of USD1.175 billion for the Souapiti Hydroelectric Project in Guinea.
The Souapiti Hydroelectric Project is undertaken by CWE, a subsidiary of CTG, and developed in a mode integrating “investment, construction and management” with support of China. Upon completion, the project will fundamentally solve the existing power shortage in Guinea and facilitate the industrialization process of the country. At the same time, the electricity generated may also be exported to the surrounding countries, such as Senegal, Mali, Guinea-Bissau and so on, benefiting many peoples in West Africa.
As the most important livelihood project in Guinea, the implementation of the Souapiti Hydroelectric Project is a major measure by China to participate the African infrastructure construction and boost the development of Africa. It shows that China adheres to its sincerity and correct views of righteousness and profit. China is willing to work with African countries to build the “Belt and Road”. This project will be a masterwork which deepens the all-round cooperation between China and African countries, forging a China-Africa community of shared future through consultation and cooperation for shared benefits.
(Translator: Shen Jiejiao, Proofreader: Ma Li)
A group photo at the signing ceremony of the Loan Agreement for the Souapiti Hydroelectric Project.