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Saturday, January 28, 2023

Parliament ratifies $30 million financing agreement

HomeAYV NewsParliament ratifies $30 million financing agreement

Parliament ratifies $30 million financing agreement


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“Financing Agreement (Productivity and Transparency Support Credit) Between the Republic of Sierra Leone and the International Development Association”

Prior to ratification, Foday B.L Mansaray on behalf of the Minister of Finance and Economic Development said among other things that the $30 Million is inclusive of $22 Million Grant and $8 Million Loan, spanning 32 years with 6 years grace period. That the Agreement aims at unlocking inclusive growth and scaling up coverage contained in the policies and programmes of Government in selected areas of education, agriculture, energy, fisheries and lands.

MPs who spoke to the motion described the Agreement as non-controversial and that it is aimed at beefing up the national economy by supporting the policies and programmes of Government. Others said that the repayment condition on the principal of the loan is also fine, and that a country could hardly stimulate growth on its economy when it is unable to export her agricultural products.

MPs also heaped praises on Government for attracting loans and grants for and behalf of the people of Sierra Leone in less than a year to general elections.

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