Parliament has ratified $22 million loan for rural finance and community improvement programme signed in Rome and Freetown between the Republic of Sierra Leone and the International Fund for Agricultural Development, IFAD in April.
The first component of the loan is aimed at strengthening rural development banking by opening branches of Apex rural bank in different districts and providing loans to farmers.
The other component covers the management of the project and co-ordination of agriculture and rural development.
The Chairman of the Parliamentary Finance Committee, Hassan Sheriff expressed concern the monitoring of the projects which he said should be done thoroughly, and that the Ministry of Finance should notify MP’s about such agreements for the benefit of their constituents.
Deputy Minority Leader, Ansu Kaikai described the agreement as "the best agreement brought to parliament to be ratified in a long time” adding “these are the kind of documents that should be brought to parliament to be ratified and should be done speedily". He said farmers had been suffering for a long time.
The Minister of State in the Ministry of Finance Momodu Kargbo who tabled the agreement said his ministry would welcome monitoring by Public Accounts and Transparency Committees.
