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NEWS : Politics  

IDA Gives USD 30 Million Grant to APC Government
By Emmanuel I. Kamara
Jul 6, 2017, 17:04
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As it remains barely eight (8) months to March 7, 2018, Presidential, Parliamentary and Local Council elections, the ruling All Peoples Congress (APC) led government of HE President Dr. Ernest Bai Koroma continue to enjoy donor confidence and support to boost economic growth and productivity in the country.

 

The latest of such support is from the International Development Association (IDA) through its Executive Director on 30th June 2017 approved a development policy credit from the Crisis Response Window (CRW), a grant amounting to US$30 Million to the Republic of Sierra Leone to finance the First Productivity and Transparency Support Operation.

 

This support according to the Release is a clear manifestation of the level of confidence that President Dr. Ernest Bai Koroma has generated in fiscal management and disbursement. His impeccable integrity and uprightness has encouraged donor and development partners to continue to support the presidentís agenda even when elections are in the corner.

 

Recently, IMF approved $US224 million extended credit facility to Sierra Leone, followed by this grant from the IDA is an indication of confidence in the fiscal policy of this government by our development partners in less than a year to our multi-tier elections in 2018. This World Bank operation will therefore complement and leverage the support of other partners such as the African Development Bank (ADB), the United Kingdom and the European Commission, who have also provided general budget support to Sierra Leone under the Multi-Donor Budget Support (MOBS) framework.

 

This financing is to support increased productivity in selected economic sectors and improve transparency and accountability in selected government decision making processes. This operation is the first of a programmatic series of three Developmentís Policy Financing (DPF), which will be supporting the implementation of the countryís third Poverty Reduction Strategy (Agenda for Prosperity) and the presidentís Ebola Recovery Priorities. This program will cover six policy areas, namely: Agriculture and Land, Fisheries, Energy, Education, Procurement, and Asset Disclosure.

 

The Minister of Information and Communication (MIC), Hon. Mohamed Bangura, has assured that these supports will definitely be expeditiously used in the implementation of the Agenda for Prosperity and the Presidentís Post Ebola Recovery Priority of the country.


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