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HomeNationalSierra Leone gets $24 M World Bank budget support

Sierra Leone gets $24 M World Bank budget support

Sierra Leone gets $24 M World Bank budget support

The President Ernest Bai Koroma’s 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 Twenty Four Million United States Dollars ($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 program towards growth and structural reforms- supported by World Bank’s Multi – Donor Budget Support (MDBS) arrangement.

Late Friday January 27, 2012, 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 & 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 the International Development Association.

l-r HE Ambassador Bockari Kortu Stevens and Mr Jan Walliser, Acting Vice President, Africa region, exchanging documents for countersigning

Mr. Jan Walliser said “the World Bank is proud to be on the side of Sierra Leone”. He described this year (2012) as “Auspicious for the Country, because it has seen an increase in the number of investors.” He also said the end of year scheduled elections will brighten the prospect for the Country’s economy”.

Responding, H.E Ambassador Bockari Kortu Stevens thanked the World Bank for its confidence in the Government of President Ernest Bai Koroma. He said the Government is “very transparent and development oriented”.

HE Ambassador Stevens signing the World Bank document for the $24 million budgetary support

“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”, said Ambassador  Bockari Kortu Stevens.” Adding, “that  is why Sierra Leoneans are proud of the respect and confidence generated from the Breton Wood institutions for the Government.

Other witnesses to the impressive signing ceremony were Cyprus P. Talati World Bank’s Senior Economist (Africa Region) Sheku Bangura, Senior Advisor to the Executive Director Africa Group 1 and other members of the Sierra Leone.

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