The World Bank Group’s Board of Executive Directors discussed a new Country Partnership Framework for Sierra Leone for 2021-2026, which prioritizes investments in human capital, job creation, economic diversification and building a resilient health system.
Prior to the COVID-19 crisis, Sierra Leone’s economy grew by 5.1 percent in 2019 driven mainly by robust activities in agriculture and services.
With the spread of the virus in Sierra Leone and the effects of the global pandemic, the economy is estimated to contract by between 2.3 and 3.1 percent in 2020 and growth could be 1.4 to 2.0 percentage points lower than forecast for the medium term.
“The new strategy is about people and jobs, and how to support Sierra Leone in advancing economic recovery and poverty reduction, which is critical in the face of the human and economic impact of the global COVID-19 pandemic,” said Gayle Martin, World Bank Country Manager for Sierra Leone.
Guided by the priorities of the government’s Medium-Term National Development Plan, the World Bank Group’s three areas of support are to:
“IFC focuses on promoting reforms that boost competitiveness, spur more inclusive growth and create better quality jobs,” said Babacar Faye, IFC Resident Representative for Sierra Leone.
