Sierra Leone, AfDB provides US $10 million grant for public financial management
The African Development Bank Group and the Government of Sierra Leone have committed to good governance and to tackling corruption, with a view to building a stronger economy. This falls within the country’s inclusive economic management program, aimed to sustainable development and shared economic growth.
The country’s Minister of Finance and Economic Development, Kaifala Marah, and Aly Abou-Sabaa, the AfDB’s Vice-President, Sector Operations, in charge of Governance, Agriculture and Human Development, on Thursday, May 22 in Kigali signed a US $10 million grant agreement to implement the inclusive program, in the form of budget support.
Minister Marah said AfDB’s funding is significant as his country is at a point in time where its extractive sector is offering an enticing opportunity to transform the development path and change lives of Sierra-Leone. “The essence of a policy is people and the Bank has been working with us in ensuring the placement of people at the centre of implementation of these projects,” he underscored.
Vice-President Abou-Sabaa expressed confidence that the fund would boost the country’s economic reform program. “We applaud the good progress in Sierra Leone’s economic governance reforms, especially in introducing the new extractive revenue management bill and the updating of its public financial management legal framework,” he explained.