Guinea Announces $7 Billion USD Deal With China International Fund

2 Nov 2009 by OOSKAnews Correspondent

The Guinean government has signed a $7-9 billion USD oil and mining deal with the China International Fund (CIF) and Sonangol (an Angolan CIF partner), according to Guinea's Mining Mnister Mahmoud Thiam. In exchange for access to Guinean national resources, China will provide infrastructure financing in areas that could include hydroelectric dams, roads, railways, social housing, power plants, water infrastructure, schools, and hospitals, Thiam said in late October. Human rights abuses by Guinea's military government make the deal controversial. More than 150 people were killed and 1,200 injured when troops opened fire on protestors on September 28, an event that prompted the International Criminal Court to open an investigation...

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