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President Julius Maada Bio of the Republic of Sierra Leone, and Abdullah KH ALMUSAIBEEH, President of the Arab Bank for Economic Development in Africa (BADEA), reaffirmed their commitment to enhancing cooperation between the Sierra Leone government and BADEA.
In a discussion held on the sidelines of the World Economic Forum’s annual meeting in Davos, President Bio provided BADEA’s President with an update on the progress of the Bank’s ongoing projects in Sierra Leone.
He also sought additional support aimed at fostering economic and social stability, sustainable growth, and job creation.
“BADEA is effectively supporting the implementation of our Medium-term National Development Plan through its interventions in key sectors of the economy especially in Infrastructure, Agriculture and Education,” President Bio stated.
Expressing gratitude for BADEA’s approval of a US$60 million Trade Credit Facility, which supports the importation of rice and other essential goods, President Bio requested further assistance to boost infrastructure development as well as a Medium-term Trade Credit Facility to support SMEs operating in productive sectors of the economy.
Abdullah KH ALMUSAIBEEH, President of BADEA, lauded President Bio for the detailed briefing on project statuses and reiterated his dedication to accelerating ongoing initiatives.
He also extended an invitation to President Bio to visit BADEA’s headquarters in Riyadh, Saudi Arabia, to strengthen the longstanding partnership.
BADEA’s portfolio in Sierra Leone currently totals approximately US$85.7 million, encompassing five projects across the road, education, agriculture, and health sectors.
