Guinea signs agreement with IFC to finance Simandou 2040
By the AFREEQUE newsroom, based on Africaguinée
The Guinean government and the International Finance Corporation (IFC), the private-sector arm of the World Bank Group, signed a cooperation agreement on 10 November 2026 in Conakry. It aims to structure public-private partnerships to finance the Simandou 2040 programme, whose needs exceed 200 billion dollars according to the Minister of the Economy.
The Guinean government and the International Finance Corporation (IFC), the private-sector arm of the World Bank Group, signed a cooperation agreement in Conakry on Tuesday 10 November 2026. The signing took place at the Ministry of the Economy, Finance and Budget, during a meeting devoted to public-private partnerships (PPPs), presented as a financing lever for the Simandou 2040 programme.
The World Bank Group representative, Issa Diaw, said that PPPs are an important tool for mobilising private financing. "Today we are entering a much more practical phase," he said, adding that the IFC will make its expertise available to the Guinean authorities to structure and develop these partnerships.
The Minister of Infrastructure, Facinet Sylla, stressed the role of roads and transport in the country’s development. "Mobility is essential," he said. He welcomed the decision to devote resources to preparing PPP projects.
The agreement follows discussions on financing Simandou 2040 held with the African Development Bank, including on 12 October, when the AfDB discussed financing for the Guinean Simandou 2040 programme. The IMF is also preparing a 41-month, 425 million dollar programme for Guinea, announced on 26 October.
