By S. U. Thoronka.
Destruction of property by the August 14th landslide and flooding at the foot of Mount Sugar Loaf at Regent, Kamayama and Kaningo estimated at USD30 million, includes physical damage to health facilities, transport and housing. This was disclosed over the weekend at a press conference held at the World Bank conference hall on Spur Road, Wilberforce.
The World Bank Country Manager, Parminder Brar informed pressmen that World Bank officials including the Country Director for Ghana, Liberia and Sierra Leone Henry Kerali paid a visit to President Dr. Ernest Bai Koroma and used the opportunity to extend the Bank’s condolences to the Government, and families of those who suffered atrocities during the landslide and flooding.
Mr. Henry Kerali informed that a total of USD10 million grant for recovery is to be approved next month added to the existing portfolio of USD3 million. He however, noted that the recovery process might require up to USD82 million which would be divided into immediate term USD15 million, medium termUSD25 million and long term USD42 million.
The Country Director also informed that there is going to be increase support of USD312 million to Sierra Leone by World Bank for the next three years, but that 50% of the amount is grant and 50% soft loan payable within 40 years at a rate of 2% per annum.
He said USD100 million of the total amount, would be for budget support the balance would go to fund projects and that the first project is for USD20 million which will be approved this year half the amount would be used on aerial survey.
The other projects to follow would include tourism, land management, water management, drainage and solid waste in Freetown and Freetown transport both land and sea.