Financing infrastructures in Guinea
Societe Generale finances the construction of the Tanènè bridge in the municipality of Dubreka.
Société Générale Guinée, in collaboration with the Group and the regional Structured Finance Department, is firmly committed to the development of infrastructure in Guinea. With this in mind, it recently granted Guinea Conakry's Road Maintenance Fund (Fonds d'Entretien Routier - FER) a medium-term loan in the amount of 269 billion GNF (approximately 30 million euros).
This funding specifically targets the construction of a new bridge in Tanènè, in the municipality of Dubreka in Guinea, to replace the current bridge, known as "the four bridges", which no longer meets the needs of modern traffic.
The new bridge, 126 meters long, will be designed according to modern engineering and safety standards. It will constitute the economic link between the capital Conakry and the bauxite mines located in the regions of Boffa, Boké and Sangaredi. In addition, it will help reduce traffic congestion by facilitating the transport of people and goods in the region.
This partnership between Société Générale Guinée, Societe Generale Group and the Road Maintenance Fund (FER) demonstrates the strategic importance of this project and demonstrates Societe Generale Group's confidence in Guinea's growth potential, as well as its commitment to supporting the country's long-term development.
The Road Maintenance Fund (FER) of Guinea Conakry, created in 2021, is a public company with legal personality. It mobilizes and administers the funds needed to finance road upkeep, maintenance and road safety improvement works.
The works will be carried out within an execution period of 18 months by the LEDUC Guinea/SOGEA SATOM consortium, experienced players in the field of infrastructure construction and with in-depth knowledge of the field.
Reimbursement of the loan will be ensured by the road maintenance fee (RER), collected directly from fuel distributors. This system ensures secure collection and steady cash flow for the project.
This project is of paramount importance for Guinea, as it will contribute to modernizing and improving the national road network, thus promoting the economic development of the country.
The construction works of the new bridge in Tanènè are already in progress, benefiting from the financial support of the Guinean State. This strategic project is supported by the allocation of fiscal and parafiscal resources to the Road Maintenance Fund (FER), thus guaranteeing adequate repayment of the loan granted.
Société Générale Guinée is proud to actively participate in the realization of this vision and remains committed to supporting the infrastructure sector in Guinea over the long run.