The programme is a sustainable development plan targeting $200 billion in investment over the next 14 years.
Ould Tah delivered the assurance in Conakry on January 17 while attending the inauguration of President Mamadi Doumbouya, elected on December 28 as President of Guinea’s Fifth Republic.
He was received by the Minister of Economy and Finance, Mourana Soumah, who serves as the Bank Group’s governor for Guinea, and Deputy Governor Ismael Nabé, the Minister of Planning and International Cooperation.
During his visit, the AfDB president held discussions with senior government officials focused on strengthening cooperation around the priorities set out in the Simandou 2040 Sustainable Development Programme. He also welcomed Guinea’s recent decision to contribute to the African Development Fund (ADF), the Bank’s concessional lending arm.
“I commend the historic contribution of the Republic of Guinea to the 17th replenishment of the ADF and express the African Development Bank Group’s profound gratitude for this unprecedented support,” Ould Tah said. Guinea is among 19 African countries that made pledges to ADF17 in December 2025.
The Simandou 2040 initiative is named after the vast iron ore deposits in southern Guinea, regarded as some of the world’s largest untapped reserves. The programme aims to fundamentally transform the Guinean economy through large‑scale infrastructure development, industrialisation, diversification and long‑term improvements to living standards.
Soumah emphasised the significant structural investments required to launch the project successfully and highlighted the importance of deepened cooperation in sectors outlined in the AfDB’s Country Strategy Paper for Guinea.
Ould Tah also met staff at the Bank Group’s Guinea country office, praising their dedication to maximising the impact of AfDB operations across the country.
–AfDB/ChannelAfrica–
