In a landmark move to accelerate Sierra Leone’s development, the Government of Sierra Leone (GoSL) and the OPEC Fund for International Development (OFID) have signed a three-year Country Partnership Framework (CPF) Agreement valued at US$260 million in Vienna, Austria. The agreement, finalized on Thursday July 3, 2025, will guide collaborative efforts from July 2025 through June 2028, focusing on key sectors including agriculture, renewable energy, road infrastructure and transport.
The CPF Agreement was signed by Sierra Leone’s Minister of Finance, Sheku Ahmed Fantamadi Bangura and OFID President Dr. Abdulhamid Alkhalifa in Vienna, Austria. This partnership underscores OFID’s commitment to supporting sustainable development by providing critical financing to non-member countries, aligning closely with Sierra Leone’s Medium-Term National Development Plan (MTNDP) 2024–2030 and the United Nations Sustainable Development Goals (SDGs) 2030.
Dr. Abdulhamid Alkhalifa described the partnership as “a commitment to progress: in roads that connect people, in energy projects that empower communities and in clean water systems that sustain life itself.”
Under the agreement, OFID’s financial support will fund a range of strategic projects, including:
• Establishment of Sierra Leone’s Agricultural Finance Bank (US$50 million)
• Irrigation and Water Management Infrastructure development (US$55 million)
• Upgrade and rehabilitation of Bumbuna 1 hydroelectric plant (US$45 million)
• Construction of the Kambia – Kychom Road (US$50 million)
• Development of a Rice Value Chain in Kambia District led by the African Development Bank (US$50 million)
• Capacity Strengthening, Policy and Programme Support (US$10 million)
Additionally, a US$200,000 grant will support the creation of a Climate Finance and Energy Innovation Hub at the Presidential Initiative on Climate Change, Renewable Energy and Food Security (PI-CREF).
Finance Minister, Sheku Ahmed Fantamadi Bangura, emphasized the significance of the deal, stating, “This agreement marks a significant milestone in Sierra Leone’s sustainable development journey. By leveraging the OPEC Fund’s financial support, Sierra Leone is not only enhancing its visibility among international partners but also accessing affordable capital to take charge of our development while welcoming credible partners to join in.”
Highlighting the impact on agriculture, Minister of Agriculture and Food Security, Dr. Henry Musa Kpaka, noted, “With the OPEC Fund’s support, we are advancing the food systems transformation at the core of the President’s flagship agenda, Feed Salone.”
Hon. Dr. Kandeh Yumkella, Chairman of PI-CREF and Energy Governance Coordination Group (EGCG) and Sector Lead for the Ministry of Energy expressed gratitude to OFID leadership and President Bio. He said, “We appreciate President Bio’s leadership in encouraging PI-CREF to collaborate with international partners to showcase Sierra Leone’s priority projects and mobilize vital funding.”
This landmark partnership reaffirms Sierra Leone’s commitment to sustainable development, infrastructure modernization and inclusive growth through strategic international cooperation.
