By Amin Kef Sesay
On Friday 17th April, 2020 the Government of Sierra Leone has completed negotiations for supplementary financing of $10 Million with the Islamic Development Bank (IsDB) for the construction of the Pendembu – Kailahun road project at the Ministry of Finance’s video conference room.
It could be recalled that in 2012, the Government of Sierra Leone signed a $15.45 Million financing agreement with the Islamic Development Bank (IsDB) for the construction of the road. The civil works was awarded to China Henan International Construction Company (CHICO) for $24.168 Million of which 68% was IsDB’s Contribution and 32% Government of Sierra Leone.
According to Ing. Amara Kanneh, Director General SLRA, the project was faced with some challenges because over the years Government was not able to pay its share of the total project cost. This is why he said the Government approached the Bank to ask for supplementary funding to cover the gap and allow the project to be completed.
Unfortunately, it is been revealed since the project was launched in 2017, not a single cent was paid by the previous administration. When the SLPP took over, the Government has committed Le6.0 billion and paid compensation to project affected persons over Le2.0 billion, realizing the money is insufficient to get the road to the Kailahun Court Barry, President Bio intervenes directly to ensure that 100 percent funding is made available to finish the project.
In his presentation, Mouchili Mayoua, Operation Team Lead (Transport and Connectivity) of the Islamic Development Bank stated that concluding these negotiations indicates that the Bank has agreed in principle to provide the funds depending the board’s approval when they meet in June.
The supplementary funding he said, will be provided under the same terms and conditions of the previous loan signed in 2012 and that it will take the total cost of the Project to $26.05 Million with IsDB financing 98% and the Government of Sierra Leone 2%.
In his statement, the Financial Secretary Sahr Lahai Jusu commended the Bank for this development, stating that the people of Kailahun can now be assured that this road project will be completed and the road will enter Kailahun town.
He also informed IDB team that the African Development Bank President, during his recent visit to Sierra Leone committed to President Bio $40.0 million as financing to the Kailahun-Koindu road.
On this note, the IDB negotiating team also committed that the Bank is examining the Government request to contribute to the Kailahun-Koindu Road and they will reach decision in June 2020.
He continued that the Government is pleased to continue with the same terms and condition as he considered the loan to be highly concessional.
He appeal to the Bank and relevant agencies of government to fast track all necessary arrangement to ensure timely cabinet approval and parliamentary ratification after the IsDB board approval in June.
The negotiating team from the Government of Sierra Leone includes the Deputy Minister of Finance 2 Ahmed FantaMahdi Bangura, the Financial Secretary Sahr L. Jusu, Director General of the Sierra Leone Road Authority (SLRA) Ing.Amara Kanneh and other technical staff.
