DEVELOPMENT CREDIT AUTHORITY
Promoting economic development is one of USAID priorities for Guinea. Guinea ranks in the bottom five countries in the world according to the World Bank’s Ease of Doing Business Index and one of the main constraints is access to credit. USAID Guinea’s Development Credit Authority, which totals $5 million over five years, provides a 50% guarantee on all loans issued to small and medium enterprises, microfinance institutions, women and farmers. Also under DCA, USAID supports microenterprises and village savings and loan banks, with a focus on raising the living standards of women and ensuring food security in Guinea.
U.S. TREASURY TECHNICAL ASSISTANCE
Guinea has made dramatic improvements in macroeconomic governance and public financial management since the transition to democratic rule in December 2010. As a result, the nation was formally approved for billions of dollars in debt relief under the World Bank’ Highly Indebted Poor Country (HIPC) program. USAID is currently supporting these important efforts to increase fiscal transparency by collaborating with the US Treasury to provide internal debt issuance and management advisory services to the Government of Guinea. The activity will focus on helping Ministry officials manage their debt and revenue more strategically. Specific areas of focus will be to continue improving tracking and planning of internal (GNF) debt, development of new, longer term local currency debt instruments and helping establish an interbank lending facility; for revenue management, the goal will be to put in place procedures and policies that ensure prompt and reliable collections.
Last updated: July 15, 2015