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Finance Minister Signs US$5M Saudi Grant

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Finance Minister Signs US$5M Saudi Grant

Despite the huge economic challenges in the early days of the Bio administration, with strong commitment to reform, the Government has restored its international credibility.

Under the leadership of the Minister of Finance, Jacob Jusu Saffa, Government has relaunched engagement with the IMF and formal board approval of a new programme is expected in November 2018.

The Minister has also reactivated many projects and programmes that were about to be cancelled due to the inability of the EBK Government to put together to access resources and the breakdown in confidence of donors of the regime and started discussions for many more.

In Bali, Indonesia at the IMF/World Bank Annual Meetings, after the signing of an Advisory agreements with IFC for 50 mega watts solar energy project on Thursday, Minister Saffa on Saturday, October 13, 2018, signed on behalf of Government a grant agreement of $5 million with the Kingdom of Saudi Arabia represented by Khalid S. Alkhudiary, Vice Chairman and Managing Director for Saudi Fund for Development.

The grant will be used for the drilling of 100 boreholes, installation of 100 solar pumps, construction of 100 elevated tanks with storage capacity, construction of distribution network system in about 77 villages including accessories, fountains and taps.

This project is expected to provide safe drinking water supply to 100 communities and will benefit over 100,000 people. The contract will be executed by the Ministry of Water Resources.

Talking to J J Saffa from the Bali Conference Centre, humble J J Saffa remarked as follows ” I am just translating President Bio’s vision into action. With the renewed international respect for Sierra Leone under President Bio, all we need is to articulate the issues well to partners. I am confident, with the robust reforms in progress and underway, we shall deliver the New Direction to our people’ he ended.

Finance News Agent in Bali, Indonesia

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