Guinea Alumina Corporations S.A. (GAC) announced today that it has contributed 18.5 billion Guinean francs to the Boké Local Economic Development Fund (FODEL) for 2022, an increase of more than 28 over the previous year.
Kamsar, Thursday, 11 May 2023 --- Guinea Alumina Corporations S.A. (GAC) announced today that it has contributed 18.5 billion Guinean francs to the Boké Local Economic Development Fund (FODEL) for 2022, an increase of more than 28% over the previous year.
The FODEL is a development fund financed by the Local Development contribution of each mining operation permit holder. The amounts paid into the FODEL must be used to finance infrastructure projects, basic social services and income-generating activities, thereby contributing to the development of entrepreneurship, local employment and human capital in the Boké region.
As a reminder, the FODEL was created by the Guinean government and became effective in 2020. The National Agency for the Financing of Local Communities is responsible for the operationalisation of the FODEL.
GAC is proud to support the local growth dynamics and development aspirations of the communities in the Boké region through this contribution, which is in line with GAC’s corporate social responsibility strategy to support local communities on a daily basis and create employment opportunities that meet their needs.
GAC’s 2022 FODEL contribution underlines its ongoing commitment to the welfare of local communities and the sustainable development of the Boké region. The company will continue to strengthen its collaboration with various stakeholders in support of the region’s economic and social growth.
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