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The Millennium Challenge Corporation (Millennium Challenge Corporation) has commended the Government of Sierra Leone for what it described as a “success story” in the implementation of the MCC Compact, following a high-level diplomatic meeting in Washington, D.C.
Madam Carrie Monahan, Acting Managing Director of the Department of Compact Operations at MCC, expressed satisfaction with the progress made by Sierra Leone, noting significant milestones achieved under the Compact arrangement.
She highlighted the establishment of the Millennium Challenge Authority – Sierra Leone (MCA-SL) and ongoing strategic discussions on the critical minerals agreement as key indicators of the country’s readiness for full Compact implementation.
During the meeting, Sierra Leone’s Minister of Finance, Sheku Ahmed Fantamadi Bangura, reaffirmed President Julius Maada Bio’s commitment to the Compact process. He also disclosed that Cabinet has approved Sierra Leone’s entry into the Africa Trade and Investment Development Insurance (ATIDI), aimed at safeguarding investments against trade and political risks.
Madam Monahan urged the government to complete its internal contributions to the Compact to enable the signing of the Entry into Force (EIF) agreement, the final step before the full disbursement of funds.
The meeting also examined broader eligibility indicators for MCC support. Madam Naureen Haque, Director of the Department of Policy and Evaluation, commended Sierra Leone’s recent scorecard performance but encouraged continued reforms in key areas, including improving the business environment, strengthening democratic processes, and enhancing social cohesion.
In response, Minister Bangura assured MCC officials that the government is engaging stakeholders to implement the national unity agreement and electoral reform recommendations.
The meeting concluded with a mutual commitment to expedite remaining technical requirements, positioning Sierra Leone to benefit from the Compact for long-term economic transformation.
The Minister of Finance was accompanied by the Minister of Energy, Cyril Grant; Sierra Leone’s Ambassador to the United States, Amara Sowa; Financial Secretary Matthew Dingie; Governor of the Bank of Sierra Leone, Ibrahim Stevens; Chief Economist at the Ministry of Finance, Alimamy Bangura; and Technical Adviser to the Minister of Finance, Dr. Franklin Sisabu Bendu.
