|Approval Date||20 Oct 2004|
|Signature Date||04 Apr 2005|
|Planned Completion Date||31 Dec 2011|
|Last Disbursement Planned Date||31 Dec 2011|
|Sovereign / Non-Sovereign||Sovereign|
|DAC Sector Code||11330|
The purpose of the ADF-IX grant of UA 2.79 million is to assist the Government in strengthening the capacity of the institutions involved in Public Financial Management (PFM), as well as rebuilding the destroyed management, policy-making and implementation capacity of the Ministry of Energy and Power (MEP). The need to strengthen the capacity of PEM institutions is derived from the 2001 Country Financial Accountability Assessment (CFAA) Report and the May 2004 Sierra Leone’s Heavily Indebted Poor Countries (HIPC) Expenditure Tracking Assessment and Action Plan (AAP), undertaken by the world Bank and other development partners, which revealed serious weaknesses that create high fiduciary risks in the current PEM system.
The objectives of the project are to (i) strengthen the productive capacity of the institutions involved Public Financial Management (PFM); (ii) Strengthen the capacity of the public sector to manage the national debt and to establish a country-wide tracking system to capture and reconcile data on all external loans and grant; (iii) to rebuild the destroyed management, policy-making and implementation capacity of the Ministry of Energy and Power (MEP); and (iv)improve the performance of the ADB portfolio in the country through the enhancement of the management capacity of the Project Implementation Units responsible for the on going projects.
This project will benefit the Government and the people of Sierra Leone in several ways. First, the project will significantly assist in building the weakened human and institutional capacity in the public sector. Second, the project will contribute in promoting economic governance, and in the fight against the abject poverty. Third, because of the improved infrastructure in Sierra Leone, economic agents will feel more confident to conduct their business and this will reflect, sooner or later, in enhanced and sustained economic activity.
African Development Fund
Government Of Sierra Leone
Ministry of Finance
|Last Update||07 Aug 2020|