IMF Technical Mission Begins Discussions on $210 Million Climate Reform Facility for Sierra Leone
Sia Lucy Kannah The International Monetary Fund (IMF) Technical Mission has commenced discussions with Sierra Leonean authorities on unlocking $210 million from the Resilience and Sustainability Facility (RSF), aimed at supporting long-term structural reforms to address climate change and strengthen resilience.
The RSF, an IMF lending instrument, would be accessed alongside the ongoing Extended Credit Facility (ECF) program. If approved at 75% quota, the facility will provide approximately $210 million, with reforms scheduled for implementation over two years, concluding by the end of 2027.
The mission will finalize timelines, responsibilities, and coordination among key government agencies, including the Ministries of Finance, Environment, Planning and Economic Development, and the National Disaster Management Agency.
Acting Finance Minister Kadiatu Allie, who chaired the opening discussions on Monday, 29th September, emphasized the importance of aligning timing and content across agencies.
Sellu McCarthy, Head of the Climate Finance Unit at the Ministry of Finance, noted that progress will be monitored through four semi-annual reviews in conjunction with ECF assessments. Each successful milestone in the reform program will trigger proportional disbursement of the RSF loan.
The reform measures focus on climate governance, infrastructure resilience, fiscal planning, social protection, water utility sustainability, and financial sector reporting. World Bank representatives called for additional technical discussions to ensure clarity and shared understanding of the process.