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HomeAfricaLibya cancels Guinea's US$24m debt

Libya cancels Guinea’s US$24m debt

Libya has cancelled a debt of US$24 million owed by Guinea, according to the Libyan national television, following the recent working visit of President Alpha Conde to the north African nation.

Libyan leader Muammar Kadhafi has also promised to supply Guinea with hydrocarbons, buses and tractors, after which a strong Libyan delegation will travel to Conakry to discuss the modalities for the proposed High Joint Cooperation Committee between the two countries.

The delegation will also discuss the construction in Kipe, a suburb of Conakry, of a 5-star hotel to be financed by Libya, which has also promised, from 2012, to make available 30  scholarships for Guinean students.

The Guinean head of state said he took advantage of his trip to discuss with his host ways to support his struggle for the achievement of African unity.

Libya was the first country to give financial and material aid to Guinea after the military junta led by Captain Moussa Dadis Camara took power 23 Dec. 2008.

Kadhafi was also the first president to travel to Guinea in 2009, after the military grabbed power in the wake of the death of President Lansana Konte


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