Africa-Press – Sierra-Leone. Sierra Leone’s Chief Minister, Dr. David Moinina Sengeh met with Mr. Soule Sow, Regional Economist of the Islamic Development Bank (IsDB), at State House to discuss future investment strategies.
During their meeting, Sengeh and Sow explored IsDB’s ongoing initiatives in Sierra Leone, which currently include a $100 million investment in agriculture. The funding targets key areas such as palm oil, cassava value chains, and livestock development.
It was confirmed in the meeting that the IsDB has committed around $100 million to various other projects throughout the country. Recently, the Sierra Leone cabinet approved the IsDB Insurance facility, which is set to be presented to Parliament for further deliberation.
Sengeh highlighted that IsDB has been active in Sierra Leone for 43 years, with nearly half of its investments occurring in the last decade, primarily in education, agriculture, and transportation. He noted that increased attention from IsDB stems from President Julius Maada Bio’s diplomatic efforts in Saudi Arabia last year, which he said have strengthened ties between the two entities.
In the past week, IsDB has engaged with the Ministry of Finance, the Ministry of Agriculture, and other relevant agencies to refine their investment approaches. The discussions have focused on aligning investments with national development priorities, particularly through the “Feed Salone” initiative aimed at enhancing food security. The IsDB has poised a plan to diversify investments into infrastructure, including roads and energy.
Sengeh emphasized the importance of addressing implementation challenges and improving coordination among stakeholders to ensure the success of those investments. Reflecting on their past connection, he noted how personal relationships can influence broader economic development.
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