The programme is a sustainable development plan targeting $200\u202fbillion in investment over the next 14 years.<\/p>\n
<\/p>\n
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\u2019s Fifth Republic.<\/p>\n
<\/p>\n
He was received by the Minister of Economy and Finance, Mourana Soumah, who serves as the Bank Group\u2019s governor for Guinea, and Deputy Governor Ismael Nab\u00e9, the Minister of Planning and International Cooperation.<\/p>\n
<\/p>\n
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\u2019s recent decision to contribute to the African Development Fund (ADF), the Bank\u2019s concessional lending arm.<\/p>\n
<\/p>\n
\u201cI commend the historic contribution of the Republic of Guinea to the 17th replenishment of the ADF and express the African Development Bank Group\u2019s profound gratitude for this unprecedented support,\u201d Ould Tah said. Guinea is among 19 African countries that made pledges to ADF17 in December 2025.<\/p>\n
<\/p>\n
The Simandou 2040 initiative is named after the vast iron ore deposits in southern Guinea, regarded as some of the world\u2019s largest untapped reserves. The programme aims to fundamentally transform the Guinean economy through large\u2011scale infrastructure development, industrialisation, diversification and long\u2011term improvements to living standards.<\/p>\n
<\/p>\n
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\u2019s Country Strategy Paper for Guinea.<\/p>\n
<\/p>\n
Ould Tah also met staff at the Bank Group\u2019s Guinea country office, praising their dedication to maximising the impact of AfDB operations across the country.<\/p>\n
<\/p>\n
–AfDB\/ChannelAfrica–<\/p>\n
<\/p>\n","protected":false},"featured_media":21196,"template":"","meta":{"_acf_changed":false},"news-type":[44],"class_list":["post-22732","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-finance","entry"],"acf":{"short_description":"The President of the African Development Bank (AfDB) Group, Dr Sidi Ould Tah, has reaffirmed the institution\u2019s strong commitment to supporting Guinea\u2019s Simandou 2040 Programme. ","published_date":null,"news_description":"The President of the African Development Bank (AfDB) Group, Dr Sidi Ould Tah, has reaffirmed the institution\u2019s strong commitment to supporting Guinea\u2019s Simandou 2040 Programme. ","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/22732","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":1,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/22732\/revisions"}],"predecessor-version":[{"id":25930,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/22732\/revisions\/25930"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/21196"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=22732"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=22732"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}