Sierra Leone receives $30m World Bank budget support
Published On : 2017-07-07 09:28:32
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Sierra Leone will receive a $30 million International Development Association (IDA) credit from the World Bank Group to support the financing of government’s development programmes articulated in the agenda for prosperity and the President’s recovery priorities, the Bank announced on Thursday.It said the Sierra Leone First Productivity and Transparency Support Credit (PTSC-I), approved by the Bank Group Board on June 30, 2017, was aimed at supporting the government’s efforts to achieve sustainable and inclusive economic development through increasing productivity in selected economic sectors and improving transparency and accountability in selected government decision-making processes.


The operation is the first of a three-year programmatic series that covers six policy areas namely: agriculture and land, fisheries, energy, education, procurement, and asset disclosure, the bank said in a statement.


It adds that the reform programmes of the government being supported under the programme relate to, among others, supporting seed production and distribution by the private sector, a new fertilizer policy that encourages private sector participation in the supply and distribution of fertilizers and moving ahead with the Land Policy Implementation Plan. 


The programmes also entail ensuring that all industrial fishing vessels have a Vessel Monitoring System (VMS) or Automatic Identification System (AIS) and observers on board and such areas as power, education, public procurement and corruption.


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