The President of the African Development Bank Group, Dr Sidi Ould Tah, has reaffirmed the institution’s commitment to supporting Guinea’s Simandou 2040 Programme, a flagship sustainable development initiative targeting $200 billion in investment through 2040.
He made these remarks in Conakry on 17 January 2026 while in Guinea, attending the inauguration ceremony of President Mamadi Doumbouya, elected as President of the Fifth Republic on 28 December. Upon his arrival, Dr Ould Tah was welcomed by the Guinean Minister of Economy and Finance, Mourana Soumah, who serves as the Bank Group’s Governor for Guinea, alongside Ismael Nabé, Deputy Governor and Minister of Planning and International Cooperation.
During his mission, Dr Ould Tah has held discussions with government officials on strengthening cooperation between Guinea and the Bank Group, particularly around the national priorities outlined in the Simandou 2040 Sustainable Development Programme. He has also welcomed Guinea’s recent decision to contribute to the African Development Fund, the Bank Group’s concessional window.
“I commend the historic contribution of the Republic of Guinea to the 17th replenishment of the African Development Fund (ADF17) and express the African Development Bank Group’s profound gratitude for this unprecedented support from Guinea,” said Dr Ould Tah. Guinea is one of 19 African countries that committed to contributing to the African Development Fund in December 2025.
Named after the vast iron ore deposits at Simandou in southern Guinea—considered one of the world’s largest untapped mineral reserves—the Simandou 2040 Programme aims to structurally transform the Guinean economy through infrastructure modernisation, industrialisation, economic diversification and sustainable improvements to the living conditions of Guinea’s population.
Soumah highlighted the country’s structural investment requirements for the successful launch of the Simandou project, stressing the need to enhance cooperation in key sectors identified in the Bank’s Country Strategy Paper for Guinea.
During his visit, Dr Ould Tah has also visited the staff of the Bank Group’s country office in Guinea and praised their commitment to maximising the impact of the Bank Group’s operations.
