By Bampia James Bundu
Minister of finance and economic development, Dr. Keifala Marah, has revealed that World Bank recently approved US$7million support to the government of Sierra Leone for social safety scheme.
Addressing journalists at the ministry’s conference room, the minister said the National Commission Social Action, NaCSA, would be in charge to disburse the funds to the poor and less privileged old people in four districts across the country.
“These funds will go a long way to help alleviate poverty level of most of the beneficiaries. As a ministry we will ensure that we monitor the process effectively so as to ensure all deserving people benefit”, the minister said.
He added that Sierra Leone was enjoying a stable micro economic environment that was characterised by a double-digit economic growth, single digit inflation, low interest rates, stable exchange rates and an improved revenue performance, trade surplus due to high exports and sustainable external debt.
“The first review of the extended credit facility programme, supported by IMF, shows that all quantitative performance criteria for end of December 2013 were met and all structural benchmark programmes were observed by the government of Sierra Leone”, he stated, adding that six priority areas were discussed with the World Bank Country Director and that they ranged from capacity building for the ministry of transport and aviation through the establishment of a planning and policy unit.
He also cited the construction of the Mamammah International Airport, the integrated transport corridors, including the deep sea port, ports expansion and port master plan, provision of public transport, ferries, water buses and technical support to the transport sector strategy and investment plan.
Central Bank Governor, Sheku Sambadeen Sesay, disclosed that the country’s reserve was comfortable as “we have resources that will last us for about four months in the case of eventualities”.
He, however, said that the single currency for West Africa, which was scheduled to be released in 2015, had been postponed to 2020 due to some issues that needed to be rectified.
(C) Politico 08/05/14
