Sierra Leone: ADF Supports Agricultural And Institutional Rehabilitation in Sierra Leone

7 April 2005
African Development Bank (Abidjan)
press release

Tunis — The African Development Fund (ADF), the concessional window of the African Development Bank (ADB) Group will support agriculture sector and public and private institutions' rehabilitation in Sierra Leone.

The Acting Vice President for the North, South and East operations of the ADB Group, Mrs. Zeinab El Bakri, and the Ambassador of the Republic of Sierra Leone to Libya, Mr. Mohammed Samura, signed today in Tunis a loan for an amount of 12 million Units of Account (UA*), equivalent to US$ 18 million to support the Agricultural Sector Rehabilitation Project (ASREP) and a grant for an amount of UA 2.79 million (US$ 4.2 million) to finance the Institutional Support Project to Strengthen the Public Financial Management and the Energy Sectors.

Investments in the rural areas through the Agricultural Sector Rehabilitation Project (ASREP) will contribute to improving rural incomes and enhancing food security.

The Institutional Support Project will support the implementation of the National Strategy for Good Governance (NSGG) by strengthening the productive capacity for public financial management and in rebuilding the Ministry of Energy and Power, which is charged with implementing the Bank financed Bumbuna Hydroelectric Power Project. This capacity building project will enhance project management of the Bumbuna Hydroelectric project, which on completion will provide adequate electricity to Freetown and surrounding areas.

During the signing ceremony, the VP El Bakri mentioned that: "the implementation of these two new interventions will contribute to assist Sierra Leone to consolidate and sustain the high growth, which increased from 7.4% in 2004"

Mr. Mohammed Samura, the Ambassador of the Republic of Sierra Leone, recalled the ADB Group's contribution to his country's post-conflict reconstruction: "I wish to register the appreciation of the Government of Sierra Leone to the Bank for the immense support it has rendered to our country in rebuilding the nation after the civil war"

The Bank Group operations in Sierra Leone commenced in 1969. To date, the ADB Group has committed a total of about UA 228.23 million, equivalent to US $345 million for 37 operations.

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