The outgoing World Bank Manager in Sierra Leone, Vijay Pillai has said in Freetown that Sierra Leone has a growth potential and that the Private Sector is the main pillar for economic development.
Mr. Pillai made this statement at a press briefing held at the World Bank Office over the weekend.
According to the World Bank Manager, for over two years the private sector has contributed immensely towards the development of the country.
He maintained that growing investment, financial resources mobilisation, and job creation is rapidly improving in Sierra Leone in the last two years. He advised that government should track records on certain private investors for quality investment.
Commenting on the huge debts incurred by the Government of Sierra Leone, Mr. Pillai referenced China, noting that in the past decade it had the highest debt but the World Bank was aware of the fact that China like Sierra Leone has the growth potential to pay off its debts. He maintained that with the mineral resources and growth potential, Sierra Leone will be able to pay off her huge debts in the future. He also informed that Sierra Leone is one of those post war countries that has held peaceful elections and that the International Community hope to see another peaceful election come November 17 this year.
Mr. Pillai further said the World Bank has undertaken 15-20 projects in Sierra Leone in the last five years. These projects include energy, education, infrastructure agriculture and fisheries among others.
He noted that infrastructure, human resource and capacity building are still major challenges for the government, whilst reassuring the World Bank’s continue support to Sierra Leone.
© Copyright by Awareness Times
Newspaper in Freetown, Sierra Leone.