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Tuesday, October 3, 2023

Islamic Bank Mission to assess palm oil production projects in Sierra Leone

HomeAYV NewsIslamic Bank Mission to assess palm oil production projects in Sierra Leone

Islamic Bank Mission to assess palm oil production projects in Sierra Leone


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AYV News May 25, 2023

The Mission headed by the Country Operations Manager (Gambia-Guinea Bissau- Sierra Leone), Omar Davis, is in town to evaluate the thirteen-year Palm Oil Production Project in the framework of capacity Building initiatives phase 2.

In a meeting at the Ministry of Finance, the Country Operations Manager stated that the objective of the mission in Sierra Leone is to assess the implementation process of the projects and map the way forward, considering the current global pandemic, global supply chain and fiscal challenges.

He further disclosed that the Bank had approved a $ 2.4 million grant for women/youth entrepreneurship programmes as part of the Bank’s commitment to supporting the developmental strives of the country.

In his overview of the project’s status, Alusine Kallon, Project Coordinator of the Palm Oil Production Project, said the project has two components and has completed the solar component.

He updated the mission that the government has disbursed over 50% of its counterpart funding, sighting procurement issues, bureaucracies at the Port had been a significant challenge to the project.

The Principal Deputy Financial Secretary, Mathew Dingie, commended the Bank for the support through the project and reiterated the commitment of the government to complete the scheme.

The team together with director of fiscal risk at the Ministry would inspect the facility at Matru Jong and visit the seaport to check on the project consignment.

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