The African Development Bank Group has reaffirmed its commitment to supporting Guinea’s Simandou 2040 Programme, a major sustainable development initiative targeting $200 billion in investment through 2040. Dr Sidi Ould Tah, president of the Bank Group, made these remarks during his visit to Conakry on 17 January 2026 to attend the inauguration of President Mamadi Doumbouya.
During his visit, Dr Ould Tah met with key government officials, including the Guinean Minister of Economy and Finance, Mourana Soumah, and Ismael Nabé, Deputy Governor and Minister of Planning and International Cooperation. The discussions focused on strengthening collaboration between Guinea and the Bank Group, particularly in alignment with the national priorities outlined in the Simandou 2040 Programme.
Dr Ould Tah also welcomed Guinea’s recent contribution to the African Development Fund (ADF17), highlighting the country’s historic support as one of 19 African nations participating in the fund’s 17th replenishment. He expressed the Bank Group’s deep appreciation for Guinea’s unprecedented contribution to its concessional financing window.
The Simandou 2040 Programme, named after the region’s large untapped iron ore deposits, is designed to transform Guinea’s economy structurally. It aims to drive infrastructure modernization, industrialization, economic diversification, and sustainable improvements in the living conditions of the Guinean population.
Minister Mourana Soumah emphasized the structural investments required for the successful implementation of the Simandou project and called for enhanced cooperation in key sectors identified in the African Development Bank’s Country Strategy Paper for Guinea.
Dr Ould Tah concluded his visit by meeting the staff of the Bank Group’s country office in Guinea, praising their dedication to maximizing the impact of the Bank Group’s operations and advancing the objectives of the Simandou 2040 Programme.
