fruitful exchanges between the delegation of the Minister of Economy and officials from the State Department, World Bank and IFC

The mission was fulfilled, it is the feeling that there should be a delegation led recently by the Minister of Economy, Finance and Planning, Dr. Lanciné Condé, in the United States, within the framework of the Annual Meeting (Spring) of the IMF and World Bank. In fact, on the sideline of its participation in the work of the Breton Woods institutions, the Guinean delegation had very good meetings with officials from the US State Department, International Finance Corporation (IFC) and World Bank. An opportunity for Dr. Lanciné Condé and his followers to provide information to their interlocutors about the socio-political and economic reforms undertaken in the country since the CNRD came to power. In return, Guinea received from all its interlocutors, assured by the new prospects offered by the country’s new leadership, the commitment to support the Transition.

Reforms, return to constitutional order and inclusiveness

At the U.S. State Department, the delegation of Dr. Condé to Michael Gonzales, Assistant Under-Secretary of State for African Affairs. On behalf of the Transitional President and the Prime Minister, the Minister of Economy took this opportunity to recall the socio-economic and political reforms proposed by the country’s new authorities, with the aim of fulfilling the promises to rebuild the state. and rebuilding the country. Dr. Lancine Condé has placed particular emphasis on inclusiveness guiding all the steps leading to these results. The Minister of Economy, Finance and Planning also assured the American diplomat about the efforts made by all the vital forces of the Nation with the aim of returning to constitutional order. This, in respect of fundamental freedoms recognized in each other and with concern for improving the living conditions of populations. Finally, together with Mr. Gonzales, the Guinean delegation discussed opportunities for support from the United States to Guinea, to enable the latter to access resources intended specifically to support the strengthening of democracy and the State of law on the continent of Africa.

A portfolio of over one billion US dollars

Members of the delegation of the Minister of Economy, Finance and Planning also negotiated with the World Bank staff in charge of the Guinean file, on the one hand, and on the other hand, with the vice president of the World Bank in charge of the West and Central Africa, Ousmane Diagana. Two meetings in which World Bank representative in Guinea Nestor Coffi participated. On the menu of these meetings, the World Bank’s Policy Statement on Guinea, with a portfolio that, as of March 31, had a total of 22 projects and programs for a total commitment amount of more than one billion 90 million dollars of US. That is 15 national projects and programs for a budget of more than 726 million US dollars and 7 regional projects and programs for a budget of more than 283 million US dollars.

In discussions with the Vice-President of the World Bank governing West and Central Africa in particular, Minister Lancine Condé praised the quality of the Country Dialogue and the exemplary cooperation between the World Bank and Guinea. . He reiterated the Government’s commitment to devote efforts to remove barriers and bottlenecks that hinder the implementation of public investment projects by striving to increase the absorption capacity of resources allocated in the country. In response, Ousmane Diagana praised the Government’s efforts in implementing reforms and managing public finances. He was particularly pleased withthe proper use of allocated resources, since disbursements have resumed ”. Also, he praised the Government efforts to combat corruption and the moralization of public finances in Guinea ”.

Tourism, hospitality, finance and mining

Finally, together with Vice President Africa of the International Finance Corporation (IFC), Sergio Pimenta, and his team, the Guinean delegation discussed realistic issues related to tourism, hospitality, finance and mining. There, the Minister of Economy, Finance and Planning first underlined for his interlocutors the efforts and reforms being put in place by the new authorities with the aim of returning to constitutional order. He then stressed the new pragmatic vision that the Transition President has for the development of Guinea’s mining potential. More concretely, the Minister recalled the invitation recently issued by Colonel Mamadi Doumbouya to mining companies operating in Guinea for aadditional contribution of additional value in the transformation of ores, especially by encouraging the refining of bauxite in Guinea ”. Exactly, Dr. Lanciné Condé has made a plea for further support from IFC to Guinea’s mining sector, a growth driver and job builder par excellence. The same call was made by the Minister of Economy in favor of Guinea’s private sector as a whole, with particular emphasis on the promotion of social housing, agro-business development and the development of the banking sector. The particular case of the Sheraton hotel, which is currently closed to the public, is on the exchanges menu between the Guinean delegation and the IFC’s Vice-President for Africa. From the latter (as an investor in this hotel), Minister Lanciné Condé requested talks with two other shareholders to find an appropriate solution that is likely to protect jobs and support this sector.

For his part, Sergio Pimenta, who positively appreciated the exchange with the Guinean delegation, recalled the strong participation of his institution in Guinea. ” IFC has been in operation for the past 5 years, nearly one billion US dollars of investments in Guinea’s private sectormainly in the mining sector ”said Sergio Pimenta, to describe the interest of his institution for Guinea. However, this indicator is not the only one to describe this interest. “When I sat in the office, in Conakry I organized my first meeting of managers commemorating the VP of the IFC, who also assured the Guinean government’s mission of his personal commitment to “do everything possible to try to fix the Sheraton Hotel file”. In addition, it will be ratified by the IFC, its Vice-President “accepted the recent developments of the Simandou project thanks to the involvement of the President of the Transition as well as in the fight against corruption”. In support for the development of financial services, Mr. Pimenta said: “ IFC will continue to work with BCRG, particularly with regard to the development of inclusive finance. ”.

In general, at the conclusion of the exchanges, the IFC expressed its intention to support financial sector analysis, support for improving Millennium Challenge Corporation (MCC) indicators, assistance in strengthening cybersecurity resources and support through capacity building for Guinea’s private sector in terms of preparation and management of the project.

It should be noted that in addition to the Minister of Economy, Finance and Planning, the Guinean delegation consists of the Governor of BCRG, Karamo Kaba, the Adviser to the Prime Minister in charge of the private sector, trade and Economy, Thierno Illiassa Baldé, of the Director General of the Budget, Ahmed Karifa Diawara, Director General of Statistical Studies at BCRG, Ahmed Tidiane Diallo, Deputy Executive Secretary of the Public Finance Programs and Reforms Monitoring Unit at the Ministry of Economy, Finance and Planning, Mamady Koulibaly, and Technical Assistant to the Minister of Economy, Finance and Plan, Sory Keita.

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