Guinea World Bank Involvement

Guinea World Bank Involvement 

Total project cost US$20 million

The development objective of the Mining Sector Governance Support Project for Guinea is to strengthen the capacity and governance systems of key institutions for managing the minerals sector in Guinea. There are three components to the project. The first component is facilitating access to mineral resources. This component will focus on supporting the Government of Guinea (GoG) in developing the capacities and systems to facilitate negotiation and contracting with private sector mining companies including mining ancillary infrastructure. It will further strengthen the governance and institutional structure of Societe Guineenne du Patrimoine Minier (State-Owned Guinean Mining Company) (SOUGIPAMI) and its technical, legal, and financial capacities to engage with mining projects sponsors. The second component is institutional strengthening for mineral management. This component will focus on strengthening the GoG capacities to license, control and monitor technical, environmental, and financial compliance of mining operations. The third component is promoting economic development of mining areas and good governance. This component will focus on sustainable investments. This will include the facilitation of regional and local development plans through partnerships with the private sector, and the strengthening of mechanisms for demand for good governance (DFG). This component will have a regional aspect, in that it will most likely focus on at least one 'growth corridor,' (iron-ore in the South-East or Bauxite/Alumina in the North-West). It will build on work carried out under previous studies, and seek synergies with International Finance Corporation (IFC) and other donor activities. The fourth component is project management. This component will support the project implementation unit, based in the Ministry of Mines, in the management of fiduciary activities, project monitoring and evaluation and the implementation of activities.