World Bank Vice President for Africa, Makhtar Diop, to visit Sierra Leone
Freetown, June 17, 2014 – – World Bank Vice President for Africa, Makhtar Diop arrives in Sierra Leone for an official visit from 18th to 20th June 20, 2014. He will participate in the Consultative Group meetings on Sierra Leone and hold high level talks on a wide range of development issues with President Ernest Bai Koroma, senior government officials, development partners, as well as dialogue with civil society and media. (Photo: Makhtar Diop, World Bank Vice President for Africa)
In July 2013, Sierra Leone adopted the Third Poverty Reduction Strategy (The Agenda For Prosperity) which rests on eight pillars. The initial estimates for implementing all projects and programmes within the Agenda for Prosperity is $5.7 billion but committed resources from Government of Sierra Leone (GoSL), Development Partners and Private Sector are estimated at $3.7 billion, creating a funding gap of $2.0 billion.
This Consultative Group meeting is, therefore, to firm up existing donor commitments and mobilize additional resources (including private sector funding including public-private partnerships) to close the funding gap.
Since 2003, the government has made substantial progress in reducing poverty and improving access to basic services. Between 2003 and 2011, the poverty headcount declined from 66 percent to 55 percent. However, substantial challenges remain and the government needs the continuous support of the donor community and the private sector to achieve its development aspirations.
Sierra Leone joined the World Bank on September 10, 1962 and since then, the Bank has been the leading development partner for Sierra Leone, supporting major investments in many sectors including energy, agriculture, fisheries, ICT, transport and mining. The World Bank’s affiliate, IFC, has also been a key supporter of various private sector activities. Total current World Bank portfolio for Sierra Leone has projects and programs worth around US$450 million.
For more information on the World Bank’s activities in Sierra Leone, please visit:www.worldbank.org/sierraleoneMakhtar Diop, former Senegalese Economy and Finance Minister, is the World Bank’s Vice President for Africa Region. From 2009-2012, Mr. Diop was the Country Director for Brazil, managing the World Bank’s largest country program. He has also served variously as Director for Strategy and Operations in the Latin American Region; Director for Finance, Private Sector, and Infrastructure in the same Region; and Country Director for Kenya, Eritrea, and Somalia. Before joining the World Bank, Mr. Diop also worked as an Economist at the International Monetary Fund.
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