20.2 C
Sierra Leone
Friday, February 3, 2023

Ambassador Jongopie Stevens signs additional loan of US$ 13, 150 million with OFID

HomeAYV NewsAmbassador Jongopie Stevens signs additional loan of US$ 13, 150 million with...

Ambassador Jongopie Stevens signs additional loan of US$ 13, 150 million with OFID

Date:

Related stories

Sierra Leone Nursing, Midwifery Council Act Passed in Parliament

The Parliament of Sierra Leone has debated intensively and...

2023 Elections: EC-SL, European Union Team Assess Electoral Preparedness

Electoral Commission for Sierra Leone (EC-SL) yesterday 1st February,...

NDMA Engages Communities on Fire Prevention

AYV News February 1, 2023 The National Disaster Management Agency...

The OFID loan of US$13, 150 Million is an additional funding to a three towns water supply and sanitation project in Bo, Kenema and Makeni with the African Development Bank and was co-financed by OFID in 2011.

Despite its broad objectives coupled with recent setbacks in the country, Ambassador Stevens said the initially approved project has since been completed, adding that, even though the project achieved an output of 184 km of distribution network, there are still large areas of the three cities that are not covered.

“The population of the three cities is now about 550,000, an increase of nearly 180,000 people,” he noted and further emphasized the need for an extension of the facilities hence the additional financing of US$13,150 Million as supplementary funds to the project, to cover additional activities targeting areas that were not included initially.

Shortly after the signing ceremony, OFID Director-General, Mr. Suleiman J. AI-Herbish, renewed his organization’s interest in further strengthening cooperation with Sierra Leone. He said access to adequate, safe and reliable water supply and public sanitation services in the three towns of Bo, Kenema and Makeni will contribute to improved sanitation in schools, health centers and other public places.

 “It is estimated that thousands of people living in these areas would benefit from the completed project,” he affirmed.
Since the cooperation between Sierra Leone and OFID started in 1976, the latter has extended eighteen loans to Sierra Leone. The total value has reached USD 150 million. The approved loans supported education, energy, transport, water supply and sanitation sectors.

OFID had also contributed to the reduction of Sierra Leone’s debt under the HIPC Initiative, thereby allowing the release of funds for the development of vital social sector projects. The country has also benefited from OFID Grants aimed at both Regional and National Programs.

Business News

Subscribe

- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once