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Implementation of PADIRPME: a loan of $14.04 million approved to Guinea

27/06/2024
Source : ORISHAS-FINANCE
Categories: Sectors

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It was on Tuesday, June 25, 2024, that the Guinean government obtained approval for a $14.04 million loan from the Board of Directors of the African Development Fund, the African Development Bank Group's concession window.

The funding granted to Guinea will allow it to implement the Industrial Development and Resilience of SMEs Project (PADIRPME). This financing allows Guinea to strengthen its institutional capacities to promote its industrial development and the resilience of its small and medium-sized enterprises (SMEs). Thus, PADIRPME will in particular support the improvement of the capacities for planning, coordinating, monitoring and promoting the industrial development of the West African country. It will also make it possible to set up a program to support the growth and resilience of SMEs and to strengthen the offer of public services to private companies. Its main challenge is the current lack of institutional capacity for the management and implementation of industrial policy, both at the macroeconomic and sectoral level and at the microeconomic level, at the enterprise level

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