Africa-Press – Sierra-Leone. The OPEC Fund for International Development (OPEC Fund) and Sierra Leone have signed a Country Partnership Strategy, which earmarks US$250 million for investments in the West African country until 2030.
OPEC Fund President Abdulhamid Alkhalifa praised the accord at the signing with the Minister of Finance of Sierra Leone, Sheku A.F. Bangura, on Wednesday, 2nd July 2025, as “an important step to reaffirm our commitment and deepen our cooperation.”
The new country strategy is a direct result of a 2024 roundtable hosted by the OPEC Fund in Vienna to raise awareness of the development challenges Sierra Leone is facing. President Julius Maada Bio, who chaired the event, secured a total of US$800 million in pledges from various development finance institutions, multilateral development banks, and the Arab Coordination Group.
The OPEC Fund signed its first loan with Sierra Leone in 1976 and, to date, has approved more than US$230 million for public sector projects in infrastructure, energy, water & sanitation, and other sectors.
The most recent is a water, sanitation, and hygiene (WASH) program for Western Area/Freetown, the most densely populated region in the country of 8.6 million inhabitants.
“The partnership between the OPEC Fund and Sierra Leone is about much more than financing. It is a commitment to progress: in roads that connect people, in energy projects that empower communities, and in clean water systems that sustain life itself.” Said OPEC Fund President Alkhalifa.
During the signing, Minister of Finance, “Sheku A.F. Bangura, stated that, ‘’This agreement marks a significant milestone in Sierra Leone’s sustainable development journey. By leveraging the OPEC Fund’s funding support, Sierra Leone is not only enhancing its visibility among international partners but also accessing affordable capital to take charge of our development while welcoming credible partners to join in. I am delighted to have signed this accord on behalf of His Excellency President Bio.”
In addition, Sierra Leone is also experiencing a net deficit of power and is in urgent need of new power sources. As one of the 20 countries in the world that are most vulnerable to the adverse consequences of climate change, Sierra Leone is actively driving the green transition. He stated.
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