OPEC Fund for International Development signed a new three-year Country Partnership Framework with Guinea that could unlock as much as $280 million in financing for projects spanning energy, agriculture, transport, telecommunications and financial services.
The agreement, signed in Conakry, is aimed at deepening nearly five decades of cooperation between the OPEC Fund and Guinea while supporting the country’s long-term economic transformation agenda under Simandou 2040.
The framework was signed by OPEC Fund President Abdulhamid Alkhalifa and Guinea’s Planning Minister Ismael Nabe in the presence of Prime Minister Amadou Oury Bah.
According to the OPEC Fund, the financing package will support investments focused on inclusive and sustainable growth, climate action, private-sector job creation and expanding economic opportunities for women and young people.
The agreement aligns with Guinea’s National Development Plan and the Simandou 2040 strategy, which seeks to use major mining and infrastructure projects to accelerate industrialization and broader economic development.
During the visit, President Mamadi Doumbouya hosted talks with Alkhalifa focused on Guinea’s development priorities, including rural development, transport connectivity, institutional capacity building and expanding private-sector participation.
The OPEC Fund delegation also held meetings with senior government officials and development partners including Arab Bank for Economic Development in Africa and Shelter Afrique Development Bank to discuss infrastructure financing and opportunities for deeper cooperation under the Simandou 2040 initiative.
Discussions centered on the role of transport infrastructure, institutional reforms and investment mobilization in driving sustainable economic growth. The OPEC Fund said the new framework also includes up to $1.5 million in technical assistance to support the preparation and structuring of bankable projects aimed at accelerating implementation timelines.
Dr. Alkhalifa reaffirmed the OPEC Fund’s commitment to financing projects that support long-term and inclusive growth across Guinea. The agreement forms part of a broader OPEC Fund mission focused on expanding strategic partnerships and investments across key sectors of the Guinean economy.
