(2minutes read)
· Sierra Leone is banking on the African Development Bank
(AfDB) to stimulate agribusiness development
· A cumulative sum of US$758 million has already been invested
by the Bank in Sierra Leone
Sierra Leone is banking on the African Development Bank (AfDB) to
stimulate agribusiness development. The country is focusing on rice
production in an unprecedented manner, said its president Maada Bio
when a delegation from AfDB led by its President Adesina called on him
recently. .
AfDB delegation was on a two-day visit to Sierra Leone. The
delegation during the visit held meetings to discuss on subjects like
malnutrition, creating skills and jobs for young people, rapidly
scaling up economic diversification and restoring the country’s
agribusiness and agriculture and importantly, development of
infrastructure. President Bio assured that his government was
working hard to recover the economy by focusing on economic
diversification keeping agriculture as the key driver. Infrastructure,
he said, was an enabler for development and invited the Bank
officials to invest in development inducing sectors. The country is
presently engaged in identifying a productive workforce to jumpstart
economic activities in rural areas, where close to 75% of Sierra
Leone’s poor people live.
Adesina in his remarks said Sierra Leone should not be spending over
US$200 million yearly importing rice, its staple food. Its climatic
conditions are conducive for rice production. Total rice demand in
2018 was 1.6 million metric tons. The local production was only
700,000 metric tons. The Bank was also urged for the implementation
of its free quality education program. Sierra Leone also needs funds
for the proposed Lungi–Freetown bridge to connect the city with the
airport. The AfDB president responded to this request by saying that
the country should actively seek support from Africa Investment Forum.
The proposed project will link the capital city- Freetown- to the
country’s sole international airport. The airport is presently
accessible by ferry or helicopter. Sierra Leone was one of the Bank’s
founding members, and the Bank has been financing projects there
since 1967. A cumulative sum of US$758 million has already been
invested by the Bank in Sierra Leone.
