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$480M Compact Fund: Financial relief to drive energy prosperity

HomeAYV News$480M Compact Fund: Financial relief to drive energy prosperity

$480M Compact Fund: Financial relief to drive energy prosperity


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Sierra Leone’s Chief Minister, Dr. David Moinina Sengeh has said the $480M Compact Fund is a financial relief to drive energy prosperity in Sierra Leone.

He said the support will be utilized for the intended purpose to mark the commitment of the Big Five Changers, while thanking U.S Government for their agreement, after a rigorous engagement with them in the past months.

The agreement of the American Embassy to endorse the agreement of the Compact Fund is a testament to underscore the gains and commitments made in the protection of democracy, and the promotion of the American culture.

This development has further established the dignity President Dr. Julius Maada Bio has asserted at the global community. Expert opinion are of the view that, the confirmation of this financial relief speaks volume, especially on matters of international diplomacy, forging strategic partnerships, and collaborations that are critical for inclusive prosperity across the board, fully.

The Compact Fund will spotlight the potentials of the Energy sector, as the driving force that will charge the formal and informal economy to actively perform through domestic and industrial interventions.

Electricity is the tool that is augmenting the performance output of every sector, making it compelling to invest in the energy industry for the resuscitation of economic activities in the market structure.

In a similar development, Dr. Sengeh highlighted government’s latest achievements, listing the Global Fund approved a symbolic cheque of $136 million dollar; launching of the $499 million dollar electricity generation project; and the state opening of the $20 million ultra-modern hospital for children opened in Lumley, as latest deliverables.

He added the signing of a memorandum with the Chinese for the construction of modern fish harbor complex at Black Johnson, and the mobilization of $840 million dollar for energy and the agriculture sector as other goodies for Sierra Leone.

He said the provision of these financial resources speaks volume on the restitution of the country’s reputation at the global stage; where development partners will be confident to provide resources that are reflective of their intentions and ambitions.

Dr. Sengeh said: “Sanitizing the bilateral integrity of this nation cannot be disconnected from the president’s visit in international conferences and regional assignments that are absolutely focused-based. We are determined to liberate the economic and social status of this country from depression to recession”.

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