During a recent visit to Guinea, Ousmane Diagana, Vice President of the World Bank for West and Central Africa, held discussions with Guinean authorities on the prospects of cooperation between the international financial institution and Conakry. The meetings focused on a new partnership framework, approved by the World Bank's Board of Directors after several months of preparation. This framework aims to accelerate the implementation of priorities identified with Guinean authorities and various stakeholders.
The new partnership framework is built around four key areas. The first area concerns the consolidation of macroeconomic reforms and public finance management. The second area focuses on strengthening human capital. The third area aims to expand access to energy and fundamental infrastructure, including addressing connectivity issues, both physical and digital. The fourth area targets the mobilization of private financing. Diagana emphasized the importance of creating conditions for dynamic private sectors to provide financing.
According to Diagana, the World Bank's Board of Directors has approved the partnership framework, which was prepared over several months with the participation of many Guineans under the leadership of the Guinean government. He highlighted that the framework will enable the acceleration of identified priorities, including creating a business environment conducive to mobilizing private capital and investment programs that create jobs.
Diagana met with Guinean Prime Minister Bah Oury and other officials, including the Minister of Economy, Finance, and Budget. He reaffirmed the World Bank's availability to accompany Guinea in implementing its priorities. The World Bank's support will focus on creating a propitious business environment, mobilizing private capital, and implementing programs that create jobs.
The Vice President of the World Bank for West and Central Africa expressed his optimism about Guinea's future, stating that the country has a political vision and can count on the World Bank's support. He emphasized that together, they will work towards achieving the objective of creating shared prosperity, jobs, and sustainable stability.
Diagana's visit to Guinea underscores the World Bank's commitment to supporting the country's development efforts. The new partnership framework is expected to play a crucial role in addressing Guinea's development challenges, including infrastructure deficits and limited access to energy and basic services.
The World Bank's support for Guinea is expected to have a positive impact on the country's economic and social development. With the implementation of the partnership framework, Guinea can expect to see improvements in its business environment, increased access to energy and infrastructure, and enhanced economic opportunities for its citizens.
Key points
- The World Bank has approved a new partnership framework with Guinea to support the country's development efforts.
- The framework focuses on four key areas: macroeconomic reforms, human capital, infrastructure, and private financing.
- The World Bank's support aims to help Guinea achieve its development priorities, including creating jobs and promoting sustainable stability.
