Politico staff writer
A high level government delegation led by the Minister of Finance Sheku Fantamadi Bangura is returning to Freetown from the United States, quiet confident that the long-awaited Millennium Challenge Corporation grant would finally be approved by the United States Congress this year. The delegation negotiated the terms of the USD 480million MCC Compact grant which is targeted at substantially transforming Sierra Leone’s ailing energy sector.
A tweet from the US embassy in Freetown confirmed that the negotiation took place in Washington D.C. and noted that the final approval of the money “hinges on the report of the Electoral Review Committee and the implementation of the resulting electoral reforms and accountability measures”. The body, known in Freetown as the Tripartite Committee which brings together the government of Sierra Leone, the main opposition, APC and the international community to review Sierra Leone’s electoral laws to address concerns from the June 2023 elections.
Knowledgeable industry sources have described the potential MCC grant as, perhaps the greatest development news in the history of Sierra Leone given the size of the grant and the fact that for the first time this country will get a modern national grid.
Earlier in the week Chief Minister David Sengeh who represented Sierra Leone at the US – Africa business summit in Dallas, Texas signed a USD 412 million loan agreement with the US International Development Finance Corporation “in financing and political risk insurance in support of the country’s plans to address rolling blackouts and expand its power system through renewable energy solutions in the future”. It’s estimated that this project will be delivered in 24 months.
In series of audio files widely shared on social media, Sengeh said the DFC funding will produce 108 megawatts of power for Freetown while the MCC grant will completely revamp the country’s electricity transmission system. He said government was also working on about 200 more mini-grids to cover several communities outside Freetown. The Chief Minister said adequate supply is key to the achievement of President Bio’s big five agenda to enhance national productivity.
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