AYV News, June 25, 2024
His Excellency President Dr Julius Maada Bio has secured United States $800 Million pledges from international development and financial institutions at the High-level Sierra Leone Investment Roundtable on Renewable Energy and Food Security organised by the OPEC Fund for International Development in partnership with Sierra Leone’s Presidential Initiative on Climate Change, Renewable Energy and Food Security.
The pledges were announced as follows – OPEC Fund: $250 Million; Arab Bank for Economic Development in Africa (BADEA): $250 Million; International Fund for Agricultural Development (IFAD): $90 Million; Africa50: $130 Million and Qatar Fund for Development: $80 Million.
These pledges are aimed at providing funding to support various investments and projects in the renewable energy and agriculture sectors.
The High-level Investment Roundtable was moderated by Hon. Dr. Kandeh Kolleh Yumkella.
President Bio said: “Today, I co-chaired the High-level Sierra Leone Investment Roundtable on Renewable Energy and Food Security hosted by the OPEC Fund for International Development the OPEC Fund. The people of Sierra Leone are deeply grateful for the USD$800 million pledges and other commitments from our partners to support sustainable energy transition and food security in Sierra Leone.
“We are committed to prioritising food security and access to sustainable energy for all our citizens. My Presidential Initiative on Climate Change, Renewable Energy and Food Security PI-CREF-SL, led by Dr. Kandeh K. Yumkella will continue to leverage partnerships to mobilise investments. I was particularly delighted to co-chair the Investment Roundtable with the President of the OPEC Fund, Dr. Abdulhamid Alkhalifa and for the tremendous support from the President of BADEA, Dr. Sidi Ould Tah”.
President of OPEC Fund, Dr. Abdulhamid Alkhalifa, who co-chaired the Hight-level segment, praised President Bio for his leadership and stated that there was no development without food security and energy.
He emphasised that the $250 million pledge by OPEC Fund would support Sierra Leone’s development needs.
President of BADEA, Dr. Sidi Ould Tah, stated that the Investment Roundtable was an opportunity for his institution to scale up partnership with Sierra Leone. He said President Bio had demonstrated exemplary leadership, adding that energy and food security were critical for Sierra Leone. He announced a pledge of $250.
President Bio, who co-chaired the High-level segment, thanked OPEC Fund for hosting the Investment Roundtable and the other Development Finance Institutions, Multilateral Development Banks and the
Arab Coordination Group for their enduring partnership with Sierra Leone.
President Bio said: “Our gathering here signifies a shared vision for the future. A future where Sierra Leone emerges as the symbol of prosperity and opportunity in Africa”.
