The President Ernest Koroma-led government has received another boost in the form of budgetary support from the World Bank’s International Development Association (IDA).
The World Bank directors approved the sum of $24Million as fifth Governance Reform and
Growth Credit (GRGC) for Sierra Leone.
The money is a one-tranche budget support disbursement meant to support the Government of Sierra Leone’s overall reform programme towards growth and structural reforms- supported by World Bank’s Multi- Donor Budget Support (MDBS) arrangement.
Late Friday January 27, Sierra Leone’s Ambassador to the United States of America, H.E Bockari Kortu Stevens who is also accredited to Canada, Brazil, Guyana, Jamaica, Bahamas, Trinidad & Tabago, the World Bank and the IMF, signed the financing agreement on behalf of the government of Sierra Leone at the World Bank headquarters in Washington DC while Mr. Jan Walliser, Acting Vice President, Africa
Region, signed the financing agreement on behalf of IDA.
Mr. Walliser said: “The World Bank is proud to be on the side of Sierra Leone,” and described 2012 as “auspicious for the country because it has seen an increase in the number of investors.”
He also said that the end of year scheduled elections will brighten the prospect for Sierra Leone’s economy.
HE Stevens thanked the World Bank for its confidence in the government of President Koroma. He said the government is “very transparent and development-oriented. Every time I have an occasion to sign instruments of this nature, I feel re-assured because it implies a vote of confidence on the economic development and fiscal policies of the government of President Ernest Bai Koroma.”
He added: “That is why Sierra Leoneans are proud of the respect and confidence generated from the Breton Wood institutions for the Government.”
Other witnesses at the signing ceremony were World Bank’s Senior Economist (Africa Region), Cyprus Talati and Senior Advisor to the Executive Director Africa Group 1, Sheku Bangura.
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