The Republic of Guinea

                                      Country Partnership Framework

                                             Chair Summary*

                                                June 7, 2018

Executive Directors discussed the World Bank Group Country Partnership Framework (CPF) for
the Republic of Guinea for the period FY2018-2023. They supported its alignment with the Guinea
Systematic Country Diagnostic and the Government’s 2016-2021 National Social and Economic
Development Plan. Directors found that the CPF provided a comprehensive framework for
supporting the country’s objectives to achieve inclusive growth, poverty reduction and sustainable
development goals.

Directors appreciated the CPF emphasis on accelerating Guinea’s transition to a more diversified,
higher-value-added economy while addressing the multiple drivers of fragility through: (i) better
fiscal, natural resources and biodiversity management; (ii) strengthened human capital and citizen
engagement; and (iii) improved agriculture productivity and economic growth.

Directors welcomed the selectivity framework but questioned if the resulting portfolio was too
thinly spread across sectors and themes. They encouraged the team to consider sharpening the
focus to achieve transformational results.

They welcomed the scale-up of the envelope and the application of the Maximizing Finance for
Development (MFD) approach, particularly in the energy and agribusiness sectors. They also
welcomed close synergy with IFC, as well as efforts to optimize the use of the different WBG
instruments, including non-concessional financing tools. Executive Directors asked about the
pipeline for PSW.

Some Directors asked about the use of non-concessional financing in the context of weak debt
sustainability. They urged continued focus on coordination and alignment with the IMF.

Directors wondered what was the WBG strategy for the energy sector in Guinea and how this
affected potential engagement of IFC and MIGA in the sector. They highlighted the importance of
the energy sector, noting that the Bank will not finance hydropower infrastructure.

Directors asked the team how the lessons from the previous Country Partnership Strategy, as well
as lessons from other parts of the Bank, will be incorporated in the CPF implementation in the
health, education, labor and energy sectors. They also encouraged the team to build flexibility in
the plans to be able to adapt to any change in the environment.

Directors highlighted the importance to improve domestic resource mobilization and the need to
strengthen social safety nets.

Overall, the Directors welcomed the emphasis on institutional and absorption capacity in light of
the ambitious program and substantial resources increase.

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*This summary is not an approved record.