On October 5, Prime Minister Bah Oury received the World Bank's Vice President for West and Central Africa at the Palace of the Dove in Guinea. The meeting aimed to strengthen the partnership between Guinea and the World Bank, as well as launch the 2027-2033 Country Partnership Framework. The World Bank delegation, introduced by Minister Mariama Ciré Sylla, discussed Guinea's economic and social priorities with the country's authorities.
During the discussions, Prime Minister Bah Oury stressed the need to improve governance and focus on achieving results. He emphasized the importance of transforming local wealth to impact society and ensure income redistribution, leading to economic growth across various sectors. The Prime Minister's statements highlighted the government's commitment to effective and efficient use of resources.
The implementation of the Simandou program has placed Guinea in a significant phase of reforms, according to Prime Minister Bah Oury. He praised the progress made in realizing the Simandou mining project, citing its success in terms of speed and effectiveness. The project has been a notable achievement for the country, and the Prime Minister acknowledged the role of various stakeholders in its success.
However, Prime Minister Bah Oury cautioned that accumulating wealth from the country's resources is not the primary objective. Instead, he emphasized the need to utilize these resources to transform people's lives sustainably. This approach prioritizes the well-being of the population over mere wealth accumulation, reflecting a long-term vision for Guinea's development.
In this context, Prime Minister Bah Oury requested comprehensive technical assistance from the World Bank Group in areas such as agriculture, human capital, environment, energy, and mobilization of national resources. He also reiterated the ambition to increase domestic revenue, targeting a minimum of 15% tax pressure by 2030, while strengthening the formalization of the economy and modernizing public management tools.
The meeting between Prime Minister Bah Oury and the World Bank's Vice President for West and Central Africa reflects the ongoing efforts to enhance cooperation between Guinea and the World Bank. The Country Partnership Framework for 2027-2033 is expected to guide this collaboration, focusing on sustainable development and poverty reduction in Guinea.
Key areas of cooperation will likely include infrastructure development, private sector growth, and social services. The World Bank's support is expected to help Guinea address its development challenges and achieve its economic and social objectives. The partnership aims to promote inclusive and sustainable growth, improving the living standards of Guineans.
Key points
- Prime Minister Bah Oury emphasizes sustainable development over wealth accumulation.
- The World Bank and Guinea are launching the 2027-2033 Country Partnership Framework.
- Guinea aims to increase domestic revenue to at least 15% by 2030.
