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Parliament Signs Seven Million Dollar Loan

Parliament Signs Seven Million Dollar Loan

Parliament has ratified a seven million US dollar loan agreement between the government of Sierra Leone and the International Development Association (IDA). The Deputy Minister of Finance, Momodu Kargbo, said the loan was to help the government achieve better economic growth, support the PRSP Two and the establishment of the Youth Commission.

The World Bank said the seven million US dollar credit line was to boost the country’s economy which was struggling with the drop in mining output due to the financial crisis. A World Bank statement said the credit was aimed at implementing a poverty reduction strategy in the country.

Also, Parliament enacted ‘The Sierra Leone National Commission on Small Arms Bill of 2010’.

The bill which was taken to Parliament by the Minister of Marine Resources and Presidential spokesman, Joseph Koroma, is geared towards controlling the illegal spread of small arms as well as reduce organized crimes in the country.

The parliamentarians supported the bill’s enactment which they said was timely for the country’s peace and stability.

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