Guinea - Economic and Financial Reform Support Programme (Phase Three)


Project Summary

Approval Date 13 Jul 2016
Signature Date 19 Jul 2016
Planned Completion Date 31 Dec 2016
Last Disbursement Planned Date 31 Dec 2017
Sovereign / Non-Sovereign Sovereign
Sector Multi-Sector
DAC Sector Code 15124
Environmental Category 3
Commitment U.A 10,520,000
Status Completion

Project General Description

PAREF III is aligned on Pillar I of the Bank’s Country Strategy Paper 2012-2016 “country economic and financial governance”. Furthermore, the programme is also consistent with the guidelines of the Bank’s 2013-2022 strategy, especially those relating to the consolidation of governance and private sector development. It is closely consistent with two of the fundamental “High-Five” priorities, namely the industrialization and electrification of Africa. PAREF III contributes to private sector development and supports implementation of Guinea’s electricity sector recovery plan. It is consistent with the guidelines of the Bank's gender strategy as regards increasing women's participation in economic activities. It is also aligned on Pillar I of the Governance Action Plan (GAP II 2014-2018) on public management; on Pillar II (sector governance) by supporting electricity and mining sector governance; and on Pillar III (investment climate and business).

Project Objectives

The medium-term expectations are: (i) improved transparency in the management of public funds; (ii) improved domestic budget revenue collection; and (iii) boosting of the private sector through improvement of the regulatory and institutional framework for business, and the promotion of local entrepreneurship. The direct programme beneficiaries are: (i) the financial services of the State (tax and customs authorities) whose efficiency will be enhanced; (ii) the Court of Auditors, whose credibility will be reinforced as it fully plays its role of monitoring budget implementation; (iii) the Ministry of SMEs and the Private Investment Promotion Agency (APIP) through reinforcement of the private sector promotion mechanism; (iv) the Ministry of Energy through restructuring of the electricity sector; and (v) the Ministry of Mining and Geology through the improvement of mining sector governance.

Beneficiaries

The direct programme beneficiaries are: (i) the financial services of the State (tax and customs authorities).

Participating Organization

Funding
African Development Fund
Funding
Fragile States Facility
Implementing
Ministry of Economy and Finance (MEF)

Information

IATI identifier 46002-P-GN-KA0-006
Last Update 26 Jan 2023

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Contact Details

Name EKPO Alain Fabrice
Email a.ekpo@afdb.org

Geographic Location

Country Guinea
Coordinates Location Name
9.53795 -13.67729 Conakry
10.83333 -10.66667 Guinea