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    World Bank suspends infrastructure funds for Guinea-Bissau

    <i>The Associated Press says that the World Bank pruned $15 million in infrastructure funding for Guinea-Bissau over governance and oversight concerns in relation to energy contracts signed by the government.</i> The World Bank cut $15 million in funds for power, water supply, road and highway construction projects in Guinea-Bissau, citing governance and oversight issues asso&#8230;

    By Newswire Newsletter // 20 December 2006



    The World Bank cut $15 million in funds for power, water supply, road and highway construction projects in Guinea-Bissau, citing governance and oversight issues associated with energy deals entered into by the government. The bank warned that the latest development “may also affect complementary support from other donors with further implications for the government’s financing plans for 2007.” In addition, it deferred discussions on proposed budgetary support for the African nation. The bank, however, stressed that the decision will not affect funding for other projects, such as in the health and environment sectors, for which it has earmarked $66.7 million.

    Source: World Bank cuts infrastructure funding in Guinea Bissau (The Associated Press)

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