Guinea IC Mining (IFC-601367)

Countries
  • Guinea
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
May 21, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Government of Guinea
The holder of the loan, grant, or other investment.
Sectors
  • Mining
The service or industry focus of the investment. A project can have several sectors.
Project Cost (USD)
$ 1.92 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Feb 26, 2019

Disclosed by Bank Jun 13, 2017


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Project Description

The project has 3 main intervention areas:

1) The establishment of a mining licensing one stop shop and of an informational portal to support its activities.
This activity includes:
1.1. the development and update of an information portal for mining licenses. The portal will provide information about the licenses and inspection requirements, based on the recently completed inventory and subsequent validation with private and public sectors. The portal will be housed in the Mining Licensing OSS called Secretariat Permanent).
and 1.2. the establishment of OSS with Appointed Case Workers who handle the applications on behalf of the large mining investors to be the direct interface between investors and the relevant licensing authorities to obtain all the necessary licenses and permits.

2) Licensing Reforms
While the Appointed Case Worker Scheme provides a short-term solution, the Government is committed to implement more fundamental reform to improve the investment climate. For this, a full licensing reform is necessary to streamline processes and institutional/regulatory framework.

3) Local content development support
The project will support the drafting and dissemination of local content policy for the mining sector. This phase will assist the Ministry of Mines and other key stakeholders, such as APIP, the Ministry of Industry, the Ministry of Labor and Professional Training, the LCWG, and mining operators with elaborating a strategic plan and implementing the policy.

Investment Description
  • International Finance Corporation (IFC)
Contact Information

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