Sierra Leone’s President Julius Maada Bio Secures USD$800 million

Sierra Leone’s President Julius Maada Bio Secures USD$800 million Pledges at High-level Sierra Leone Investment Roundtable on Renewable Energy and Food Security

Vienna, Austria, Monday 24 June 2024 – His Excellency President Dr. Julius Maada Bio has secured USD$800 million pledges from international development and financial institutions at the High-level Sierra Leone Investment Roundtable on Renewable Energy and Food Security organised by the OPEC Fund for International Development in partnership with Sierra Leone’s Presidential Initiative on Climate Change, Renewable Energy and Food Security.

The pledges were announced as follows – OPEC Fund: USD$250 million; Arab Bank for Economic Development in Africa (BADEA): USD$250 million; International Fund for Agricultural Development (IFAD): USD$90 million; Africa50: USD$130 million and Qatar Fund for Development: USD$80 million.

These pledges are aimed at providing funding to support various investments and projects in the renewable energy and agriculture sectors.

President of OPEC Fund, Dr. Abdulhamid Alkhalifa, who co-chaired the High-level segment, praised President Bio for his leadership and stated that there was no development without food security and energy. He emphasized that the USD$250 million pledge by OPEC Fund would support Sierra Leone’s development needs.

President of BADEA, Dr. Sidi Ould Tah, stated that the Investment Roundtable was an opportunity for his institution to scale up its partnership with Sierra Leone. He said President Bio had demonstrated exemplary leadership, adding that energy and food security were critical for Sierra Leone. He announced a pledge of USD$250.

President Bio, who co-chaired the High-level segment, thanked OPEC Fund for hosting the Investment Roundtable and the other Development Finance Institutions, Multilateral Development Banks, and the Arab Coordination Group for their enduring partnership with Sierra Leone.

“Our gathering here signifies a shared vision for the future. A future where Sierra Leone emerges as the symbol of prosperity and opportunity in Africa,” President Bio said.

The High-level Investment Roundtable was moderated by Hon. Dr. Kandeh Kolleh Yumkella.

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