Guinea advances development financing through Islamic Development Bank and RIAFCO

Guinea highlighted its growing partnership with the Islamic Development Bank (IsDB) at the bank’s annual assembly in Baku, presenting a portfolio of 17 projects in infrastructure, education, health and agriculture. The portfolio now exceeds $1.2 billion in commitments with a disbursement rate of over 50%, marking a notable increase from the previous year’s $1.145 billion and lower disbursement levels. Minister of Plan and International Cooperation Ismaël Nabé stressed the need to accelerate execution, improve impact and reinforce the country’s credibility with donors.

At the same time, Guinea’s role in African local‑government financing was reinforced as the country, through the National Agency for Local‑Government Financing (ANAFIC), chaired the Network of African Institutions for Local Government Financing (RIAFCO). During the RIAFCO general assembly held alongside the United Cities and Local Governments congress in Tangier, the network approved its 2026‑2029 roadmap and annual work plan. The meeting, led by Mohamed Sikhé Camara and ANAFIC director‑general Sékou Mawa Touré, reaffirmed commitments to strengthen local‑level financing, forge strategic partnerships and introduce innovative funding mechanisms across the continent.