Sierra Leone: World Bank signs agreement worth US$10million to support economic reforms

By Olusegun A. Ogundeji – The World Bank has today signed an agreement worth US$10 million with the Government of Sierra Leone in support of the Fourth Governance Reform and Growth Credit, a Development Policy Operation (DPO) – the first in a new three-year series. 

Aimed at helping the Government continue with the implementation of the country’s Agenda for Change priorities, the credit will, amongst other things, contribute to the Government’s efforts in maintaining poverty reducing spending and promoting private sector growth while safeguarding macroeconomic stability.

The measures supported by this credit are expected to have a positive impact on poverty reduction and economic growth in the country,” says WB Country Manager for Sierra Leone, Mr. Vijay Pillai. “Budget support is a critical part of the Bank’s overall assistance to Sierra Leone; and its success will be dependent on continued government leadership in taking forward its reform efforts.  We are pleased that the Bank Board recognizes the progress being made by the country and the supportive role of this operation in continuing these reform efforts“.

This support is provided in the context of the multi-donor budget support framework whose other partners include the United Kingdom Department for International Development, the European Commission, and the African Development Bank.