An appraisal mission from the Arab Bank for Economic Development in Africa (BADEA) on Tuesday 3rd September 2024 signed a Memorandum of Understanding (MOU) for implementing ongoing projects and designing new ones in Sierra Leone.
This signing marks the end of a week’s mission that commenced on 28th August to 3rd September 2024, with a follow up on the outcomes of the roundtable meetings held in Vienna in June 2024 with His Excellency President Julius Maada Bio and some senior officials of government and Arab Bank for Economic Development in Africa (BADEA).
The head of BADEA mission Mr Diab Karrar who is the Chief of Operations explained that they are in Sierra Leone to approve the construction of the Bauya Bendu Cha Road Project, to engage in talks on government food security program (Feed Salone operational plan 2024-2028, to ensure a Trade Finance Facility, also do a follow-up on the ongoing projects and discuss the pipeline of new operations in the country.
Diab Karrar disclosed that the road is about 65 kilometers and starts from Bauya Junction to Bendu Cha and is part of Tikonko Kpetema Mattru Jong Bauya Bendu Cha Road which has a total length of about 145 kilometers, and that BADEA is financing two sections of the road, Kpetema Mattru Jong and Tikonko Kpetema.
He noted that the project is estimated to be around $60 million of which $42.91 million is in foreign currency and $17.09 million 28.48% in local currency.
He also explained the Education Sector Support Project implementation which is about 42% completed.
The head of mission further explained that the Organization is proposing to support the Trade Facility Programme to support Small and Medium Enterprises through the Feed Salone Agenda of the government.
He concluded that the team is pleased with the project coordinators in the implementation process so far and revealed willingness of BADEA to further work with the government of Sierra Leone on subsequent projects that align with the Medium-Term National Development Plan.
During the Courtesy visit to the Ministry of Finance, Deputy Minister of Finance 1 Kadiatu Allie, explained that Sierra Leone and BADEA have over 50 years of multilateral relationship.
She noted that the Organization comprises about 18 Arab Countries and the beneficiaries are mostly sub-Sub-Saharan countries with an estimated disbursement of about 13.7 billion.
The Deputy Minister expressed delight to receive the mission to Sierra Leone, stressing the need to support the Agricultural sector, the flagship program of the government.
The Financial Secretary Matthew Dingie thanked the mission, saying “a technical team had been set up to monitor the progress of the donations made by BADEA and OPEC Fund.”
He continued that the Ministry will coordinate with the technical team set up by His Excellency to meet and discuss with the BADEA team and develop a programme for the utilization of these funds.
Matthew Dingie also noted that SME support is not new in the country and that the government is already implementing the MUNAFA FUND programme to support Small and Medium Enterprises (SMEs).
The mission ended its assessment and engagement on 3rd September 2024. The team of donors was accompanied by Mr Sameh Azzuz Senior, Civil Engineer Expert, Mr Hatem Jabari,head of the Agriculture Value Chains Division.
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