The esteemed Country Director for Sierra Leone, Liberia, and Ghana at the World Bank, Pierre Laporte, embarked on a pivotal two-day mission to Sierra Leone, commencing on Monday, the 21st of August, 2023.
The primary objective of his visit was to engage with the Minister and senior executives of the Ministry of Finance, forging a path for deeper cooperation and discussing ongoing and prospective partnerships with the World Bank.
Addressing a gathering of government officials and financial experts, Laporte expressed his gratitude to the Minister and his team for their unwavering commitment to collaborative efforts with the World Bank.
He underscored the importance of maintaining an amicable and productive relationship between Sierra Leone and the institution.
In an encouraging testament to Sierra Leone’s strides, Laporte commended the nation for its remarkable progress in enhancing last year’s disbursement rate within the project portfolio. He also praised the government’s dedication to implementing a range of critical reforms, aimed at bolstering economic stability and growth.
During his discussions with Minister of Finance Sheku Fantamadi Bangura, Laporte conveyed the World Bank’s aspirations to provide comprehensive support in enhancing the country’s macroeconomic and microeconomic foundations.
Minister Bangura, in turn, welcomed the Country Director, highlighting Sierra Leone’s sustained efforts to leverage World Bank resources effectively over the past few years. Notable improvements in disbursement rates within the Bank’s portfolio were attributed to the government’s proactive measures.
Minister Bangura elaborated on the government’s multifaceted approach, which includes strategies to augment revenue generation, fortify fiscal consolidation, trim budget deficits, curtail public debt, and concurrently bolster investments in vital sectors such as Education, Health, and Food Security.
Discussing the economic landscape, Minister Bangura also provided an overview of Sierra Leone’s macro-fiscal situation throughout 2022 and the initial half of 2023.
Moreover, he elucidated the government’s “Big Five” agenda, outlining how the administration intends to engage with partners to align their initiatives with this overarching strategic plan.
As part of his stay in Freetown, Laporte is slated to hold discussions with various high-profile figures, including President Dr. Julius Maada Bio, the Chief Minister, government ministers, the Governor of the Bank of Sierra Leone, and other prominent development partner organizations in Sierra Leone.
The visit of the World Bank Country Director underscores the significance of collaboration and international support in shaping Sierra Leone’s economic future.
This interaction marks a key milestone in fostering stronger ties between the nation and the global financial community, with mutual goals of prosperity and sustainable growth.