Home Blog Page 1110

KaDSU Takes Coronavirus Awareness Campaign to Karene District

Cross Section of members Karene District Students Union

By Foday Moriba Conteh

In a bid to complement the efforts of the Government to reach out to communities with preventive messages against the coronavirus, the Karene District Students Union on Thursday 16th April, 2020 concluded a 5 day door to door community sensitization on the causes and prevention of the Corona Virus Disease (COVID-19) at Karene District starting in Kamakwie Township and ending up at Tambahka Chiefdom as part of the Union’s support towards curtailing the spread of the Covid-19 in the country.

Speaking to this Press, President of the Karene District Students Union, Benjamin Abu Turay, disclosed that the door to door sanitization was geared towards educating and creating awareness to prevent the transmission and spread of the coronavirus, adding that during the awareness raising they also donated soaps to all the communities they visited and residents were sensitized on hand washing as a preventive   measure against contracting the current world pandemic.

He stated that the current sensitization drive is carried out as a way of complementing Government’s effort in the fight against CoVID-19 furthering how the awareness will enable beneficiaries to sensitize the community people especially on the mode of transmission,    signs and    symptoms as well as the preventive measures against COVID-19. Turay also highlighting that some communities in Karene District like Tambahka are border communities that they are at high risks.

He encouraged all to observe the necessary personal hygiene guides and to adhere to the directives of the Government. He also admonished them to adopt the practice of hand washing demonstrated to them in order to curtail the spared of the virus in the country.

He called on organizations and individuals to support the Union as saying they are currently challenged in terms of resources in order to continue the door to door sensitization.

Mariama Conteh, a resident of Karene, expressed delight for the inspirational and encouraging messages from KaDSU bordering on the importance of taking ownership of the fight against the coronavirus in the country. She urged residents to make good use of the messages and adhere to the preventive measures.

In appreciation, District Medical Officer, Karene District, Dr. Sheriff Chernor Jalloh hailed the team for taking such a venture  describing it as a timely intervention at a moment like this when people need every awareness on coronavirus causes and prevention. He also underscored their assiduous and relentless work in tandem with other stakeholders to curtail the spread of the COVID-19 in the country.

A representative of the Paramount Chief for Sella Limba, Pa Balla Bangura also expressed appreciation to the Union for taking coronavirus awareness campaign to Karene District. He assured them of their support in carryout the said campaign in the district and called on residents of Karene District to ensure that they make good use of the information received and also implement the preventive measures.

 

Religious Booklet on Coronavirus Out

By Foday Moriba Conteh

A group of Muslim and Christian leaders in Sierra Leone have jointly published a booklet of messages tailored for those poised against the fight of the coronavirus disease.

The booklet was unveiled at a meeting of the religious leaders from the Christian Action Group (CRISTAG) and Islamic Action Group (ISLAG) held at the conference hall of Sierra Leone’s Council of Churches.

The messages contained in the booklet were adopted from the guidelines of the country’s Ministry of Health and Sanitation.

Imam Dr Ramadan Jalloh, Coordinator of ISLAG, said the booklet represented the role of religious leaders in the national efforts to fight the virus, which he described as a Divine obligation.

He cited verses in the Holy Quran and teachings of the Holy Prophet (PBUH) to justify the messages that encourage people to obey advices of medical professionals to keep safe from the virus.

Reverend Christiana Sutton-Koroma, National Coordinator of CRISTAG, presented the messages adopted from the Christian gospel. “As religious leaders, we must speak with one voice and not with conflicting messages in the fight against coronavirus,” she said.

The booklet titled “Religious Messages on Coronavirus” will be distributed nationwide.

Aki-Sawyerr Comes on Board C40 Cities Global Mayor COVID-19 Recovery Task Force

Yvonne Aki-Sawyerr

By Foday Moriba Conteh

Yvonne Aki-Sawyerr, a member of the inaugural cohort of the Amujae Initiative and Mayor of Freetown, Sierra Leone  has been appointed to the C40 Cities Global Mayors COVID-19 Recovery Task Force.

The task force is chaired by Giuseppe Sala, Mayor of Milan, Italy and will “see leading mayors worldwide collaborate to achieve an economic recovery from COVID-19 that enables people to get back to work, while preventing climate breakdown from becoming an even bigger crisis that halts the global economy and threatens the lives and livelihoods of people everywhere.”

Highlighting Mayor Aki-Sawyerr’s extensive leadership experience in public health crises, C40 Cities said:

“The task force will be made up of representatives of mayors from every region within the C40 network, many of whom have unparalleled specialist expertise – including Mayor of Freetown Yvonne Aki-Sawyerr, who was Director of Planning at the National Ebola Response Centre of Sierra Leone during the 2014-15 Ebola epidemic.”

Negotiations of $10m Supplementary Funding of the Pendembu – Kailahun Road Project  Ends

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.

 

U.S. Ambassador Dilates on Collaborative Efforts to Combat COVID-19

U.S. Ambassador Maria E. Brewer

U.S. Health Assistance Op-Ed

By U.S. Ambassador Maria E. Brewer

The story of U.S. leadership in the global battle against COVID-19 is the continuation of a longer story of global health assistance around the world. These efforts demonstrate a decades-long foundation of American expertise, generosity, and planning unmatched in history.

The United States provides aid because we believe it’s the right thing to do. We also do it because pandemics don’t respect national borders. If we can help counties contain outbreaks, we’ll save lives everywhere.

Here in Sierra Leone, the U.S. supports the current threat by strengthening surveillance, diagnostic capacity, case management, and supply chain systems, as well as contributing drugs, equipment and vehicles. Our U.S. President’s Malaria Initiative plays a key role in all of these areas, and will be pivotal in helping to mitigate the challenge of combating COVID-19 in the context of Sierra Leone, as will the Neglected Tropical Disease program that we have conducted in Sierra Leone for the past 10 years.

Our generosity and pragmatism explains why the United States was one of the first countries to help to the Chinese people as soon as reports emerged from Wuhan of another outbreak, offering immediate technical assistance to the Chinese Centers for Disease Control, and then, in

February, transporting nearly 18 tons of donated medical supplies to Wuhan. We also pledged $100 million in assistance to countries to fight what would become a pandemic – including an offer to China, which was declined.

Our response now far surpasses that initial pledge. Since the outbreak of COVID-19, the U.S. government has committed nearly $500 million in assistance to date. This funding will improve public health education, protect healthcare facilities, and increase laboratory, disease-surveillance, and rapid-response capacity in more than 60 of the world’s most at risk countries– all in an effort to help contain outbreaks before they reach our shores.

As the largest funder of WHO since its founding, America’s unsurpassed contributions are also felt through the many international organizations fighting COVID-19 on the front lines.

Our country continues to be the single largest health and humanitarian donor for both long-term development and capacity building efforts across the globe, funding nearly 40% of the world’s global health assistance programs, adding up to $140 billion in investments in the past 20 years – five times more than the next largest donor. Since 2009, American taxpayers have generously funded more than $100 billion in health assistance and nearly $70 billion in humanitarian assistance globally.

Sierra Leone’s health system benefits from the foundation created by the $600 million contribution from the U.S. for response and recovery during and subsequent to the Ebola crisis. This investment improved water and sanitation and provided training for more than 500 health professionals at the primary care level. In addition, we have graduated 176 epidemiologists and more than 180 Community Health Officers have been trained in management and leadership skills.

Ambassador Maria E. Brewer

The U.S. Government helped establish Sierra Leone’s Emergency Operations Centre, which is currently being used to coordinate COVID-19 preparedness and response. We also supported the Public Health Laboratory Rapid Response teams for the testing of Ebola and, now, COVID-19.

Our Global Health Security Agenda initiative serves as a platform to detect, prevent and respond to infectious diseases such as COVID-19.  U.S. investments have provided significant support for establishment and maintenance of the electronic Integrated Disease Surveillance and Response system, making Sierra Leone the first country in the region to have electronic surveillance at health facility level. Additional ongoing U.S. support for establishment of Sierra Leone’s electronic Case Based Disease Surveillance system supports real-time reporting of individual cases of priority diseases, including COVID-19.

Further, U.S. funding helped establish the Epidemiology and Surveillance Unit at the Ministry of Agriculture and Forestry, and supported the development of the country’s National Action Plan for Health Security. We have renovated and equipped entire laboratories in Sierra Leone, including the only Central Veterinary Lab in the country, which is state-of-the-art.

We continue to conduct extensive training of diverse cadres of health personnel for many different tasks. To cite just a few examples —

  • Over 200 Sierra Leonean Public Health Officers across all 16 districts have been trained in field epidemiology through the Field Epidemiology Training Program, gaining key skills in outbreak detection, investigation and control at the health facilities.
  • Forty-three IPC Officers have been trained in infection prevention and control practices and are providing leadership at the national and district level for COVID-19 coordination teams.

U.S. implementing partners have developed risk communication messages and printed information, education, and communication materials on COVID-19 in Sierra Leone. The U.S. President’s Emergency Plan for AIDS Relief (PEPFAR), which has provided HIV/AIDS support to Sierra Leone since 2016, has agreed to allow immediate funding for efforts to address COVID-19.

In addition, the U.S. Department of Defense has worked with Sierra Leone’s Office of National Security Disaster Management Department for general emergency preparedness through training on policy and planning. We have also partnered with RSLAF to strengthen the logistics capacity, which is currently playing a role in RSLAF’s border deployments to respond to COVID-19.

Our help is much more than money and supplies. It’s the experts we have deployed worldwide, and those still conducting tutorials today via teleconference. It’s the doctors and public-health professionals trained, thanks to U.S. money and educational institutions. And it’s the supply chains that we keep open and moving for U.S. companies producing and distributing high-quality critical medical supplies around the world.

As we have time and time again, the United States will aid others during their time of greatest need. The COVID-19 pandemic is no different. We will continue to help countries build resilient health care systems that can prevent, detect, and respond to infectious disease outbreaks. Just as the U.S. has made the world more healthy, peaceful, and prosperous for generations, so will we lead in defeating our shared pandemic enemy and rising stronger in its wake.

SL Brewery Gallantly Joins the COVID-19 Fight

By Amin Kef Sesay

The 17th April 2020 has gone down the annals of history of the Sierra Leone Brewery Limited (SLBL) as one when the company, in its usual posture, swiftly responded to the urgency of fighting the detestable coronavirus.

SLBL, as part of its Corporate Social Responsibility and their support towards the fight against the coronavirus in the country, on that memorable day donated personal protective Equipment worth millions of Leones to the Government of Sierra Leone through the Covid-19 Response Team . The impressive donation include 2,000 litres of alcohol sanitizers, 5 Milla Hand washing machines with accessories, 50 veronica buckets with accessories, 50 hand washing basins, 30 cartons of soap, 14 cartons of tissues and 12,000 Cans of Maltina.

Presentation of the items took place at the Forecourt of the Emergency Operation Centre at Cockerill in Freetown.

Present at the ceremony were the Human Resource & Resource Mobilization Officer of the COVID-19 Response Team, Cyrus Sheriff, Member of the Strategic Planning Team, EOC Covid-19 Response Team, Moses Miller, Managing Director Designate of the Sierra Leone Brewery Limited, Laurent Bukasa, Corporate Affairs Manager, Albert Ojo Collier, Corporate Affairs Assistant, Unisa Conteh.

In his address, the Managing Director of the Sierra Leone Brewery Limited, Laurent Bukasa, expressed appreciation to the Government of Sierra Leone for its pro-activeness in putting measures in place to curtail the spread of coronavirus in the country, adding that Brewery is a partner of growth underscoring how in that regard they are extremely humbled to donate the aforementioned items to the Government and People of Sierra Leone through the Covid-19 Response Team.

He said the 2,000 litres of alcohol sanitizer were manufactured by SLBL, noting that hand washing is very key towards curtailing the spread of this virus. He said it is in that regard that they are not only donating the sanitizers but also 5 Milla Hand washing machines with accessories stressing such will be placed in various locations for people to observe regular hand washing.

He admonished citizens to adhere to the preventive measures instituted by Government and the health practitioners in order to curtail the spread of the virus in the country.

Receiving the items on behalf of the Government, a member of the Strategic Planning Team of the EOC Covid-19 Response Team, Moses Miller, expressed gratitude to the Sierra Leone Brewery Limited for the items donated praising such as a timely intervention.

He assured them that the COVID-19 Response Team will supervise the proper distribution and utilization of the donated items assuring that they will reach the targeted beneficiaries.

Palo Conteh’s Defence Team Demonstrates Dogged Professionalism  

Alfred Paolo Conteh

By Foday Moriba Conteh

On the 23rd April 2020 the trial between State and Rtd. Major Alfred Palo Conteh will come up at the High Court of Sierra Leone before Justice Momoja Stevens in Freetown.

It has been intimated that the Defence Team has been boosted by the former Vice President of Sierra Leone, former Chief Justice of the Republic of Belize and Octogenarian Lawyer, Dr  Abdulai O Conteh, former Deputy Chief Prosecutor of the Special Court, ACC Commissioner  and Attorney General and Minister of Justice, Joseph Fitzgerald Kamara (JFK)

Melron Nicol – Wilson, former Defence Counsel and Case Manager at Special Court for Sierra Leone and Ombudsman and Lansana Dumbuya, Former Defense Counsel at Special Court for Sierra Leone and International Criminal Tribunals for  Rwanda will also join Ady Macauley as well as Lawyer Wara Serry Kamal for the Defense Counsel.

Former Attorney General and Minister of Justice, Joseph Kamara, said: “We are presenting a strong team and I believe the team will be led by the most senior lawyer and if Dr Abdulai O Conteh is in town, he may lead the team but if I am given the opportunity, I will lead the team.”.

The State will be represented by the Attorney -General and Minister of Justice Dr Princilla Schwartz as  lead counsel supported by the Director of Public Prosecution Easmon Nguaqui , Adrain fisher and Veteran Prosecutor Soyei.

 

Adonis Abboud Espouses Valid Lessons of Commonwealth Africa Summit

Adonis Abboud who is a Board member of the Commonwealth Africa Initiative and the Honorary Consul General of Serbia to Sierra Leone

By Amin Kef Sesay

The Commonwealth Africa Summit which started on March 8, 2020 and ended on the 10th March 2020 in London served as an important showcase to promote interconnection between the Commonwealth countries and Africa.

“Through events like this around the world the Commonwealth Africa Initiative strives to respond to Africa’s challenges in a positive way and to change the way Africa is discussed not just here in London where the Commonwealth’s is headquartered but, in New York, Toronto and elsewhere we have events,” said Adonis Abboud who is a Board member of the Commonwealth Africa Initiative and the Honorary Consul General of Serbia to Sierra Leone.

With the looming lockdowns related to the Corona virus, the event proved to be the last substantial African policy event in London prior to the lockdown.

The Commonwealth Week includes a number of annual events in the UK from a wreath-laying ceremony to recognize soldiers from the Commonwealth to an annual interfaith service at Westminster Abbey which celebrates the 54 member States and their achievements. The Commonwealth Day service at Westminster Abbey included a moving speech from heavyweight boxing champion Anthony Joshua.

A statement on the website of the British Royal Family noted that the event served to celebrate the Commonwealth: “their differences, their common ground, what they have achieved together and what they hope to achieve in the future” as a statement on the website of the royal family reads.

In alignment with the principles and purpose of celebrating the contribution of each member, the Commonwealth Africa Initiative (CAFI), hosted its 8th annual congress as part of the Commonwealth Week activities. With more than 250 attendees in the first two days, the event gathered Government ministers, private industry investors, entrepreneurs, and social activists, with the aim of promoting the interest of the African bloc, in the Commonwealth of Nations as well as the interests of Commonwealth nations within Africa.

“It was important to attend the Commonwealth Africa Summit because now, more than ever before we must understand the fierce urgency of now to put heads together and attend to the urgent needs of the development of the continent. This must be the African century,” said Fall Ayo Abina Chairman founder of Nigeria’s AACS.

Each of the previous annual summits in London has provided an open space for dialogue, with remarkable debates. Best practices were also shared regarding Health Emergency issues, Rural Development, Gender Equity, Trade Innovation or the Role of Africa in Finance, among other subjects of common interest. The plenary sessions offered the opportunity for speakers to convey their thoughts and values on how to reinforce relationships with allied nations that are seeking a common interest, Africa’s progress and that of other Commonwealth countries.

The Gala Dinner which was held to close the event, provided a great environment for networking opportunities with attendees of  Government officials, diplomats, business leaders, civil society activists, and journalists to further engage. The event included an art exhibition of talented African artists, a live music performance, and a fashion show from a young African designer who recently participated in London’s 2019 Fashion Week.

“The Commonwealth Africa Summit dinner gala presented another golden opportunity to exhibit talented artists ethnically from the African continent. It was great to see the response from high profile guests who really admired the artist’s presentations and were interested in knowing more about art originating from African artists,” said Nosa Iyobhebhe, founder of the art gallery Nosa Creatives.

The Summit was a great ecosystem of transparency and openness, for participants to learn about initiatives being carried out by International Organizations that were participating in the Conference. Among the guests, CAFI was honored to count on the support and involvement of representatives from UNHCR, The World Bank, ACT Foundation, Access Bank, FSE Group or the UN Economic Commission for Africa, together with other esteemed collaborators, who equally contributed towards the success of each Panel. This year’s event was held in partnership with Cambridge University Press, Auxilia Advisors, Biseeks International, Bitcoin, Esther Ajayi and Gleehd Foundation from Nigeria.

As CAFI’s Annual Conference evolves, the event has continued to build a stronger reputation over the years engaging national and international top participants from the political and economic spectrum. The 2020 edition included Jim Murphy, Leader of the Scottish Labour Party between 2014- 2015, together with other former cabinet ministers of the United Kingdom government, another keynote speaker was the Rt. Hon Charles Clarke who was the UK Home Secretary from December 2004 until May 2006. Clarke was both a keynote speaker and spoke at a private reception for the event held at the Palace of Westminister – the meeting place of the British parliament.

The agenda of the three-day event comprised important remarks, special interviews and five plenary sessions ensuring a high standard throughout the event.  CAFI is devoted to continue serving as a global-local platform, that will enable major contributions of participants and partners for the achievements of specific goals, for the progress of the African continents and its allies within the Commonwealth.

 

EU Signs EUR 60M with GOSL for ‘Jobs & Growth Programme’

By Amin Kef Sesay

The European Union and the Government of Sierra Leone have signed a EUR 60 million / SLL 630 billion “Jobs and Growth Programme” to provide the much-needed boost to human capital-centred, sustainable development in these difficult times.

Difficulties to find a job or start a business, no access to finance or training and bad roads especially in the rural areas are some of the challenges to make a living in Sierra Leone. COVID-19 challenging .

The European Commissioner for International Partnerships, Mrs Jutta Urpilainen, said: “COVID-19 knows no borders. We all face the same risks. We are all in this together.”

The European Union is currently aligning its support to the Government of Sierra Leone’s “Quick Action Economic Recovery” Programme, and this is also particularly the case with the “Jobs and Growth Programme”:  It will provide affordable financial services, better maintenance of rural roads, improved basic education as well as job-oriented training for young people and it will support women in starting businesses.

Following the signature, EU Ambassador to Sierra Leone Tom Vens said: “Today once more symbolises the partnership between Sierra Leone and the European Union. The EU stands with Sierra Leone in these difficult times. We may have to practice social distancing, but our solidarity just gets stronger.”

This programme will be implemented together with the Government of Sierra Leone and some of the strongest partners for development: the United Nation’s Capital Development Fund (UNCDF), the International Labour Organisation (ILO), the World Bank (WB) and GIZ.

Ambassador Tom Vens further announced: “Under the Jobs and Growth Programme, that they  are also already expanding our support to the fight against COVID. An additional EUR 5.5 million/ SLL 58bn has been earmarked to reinforce the Social Safety Net Program of the Government of Sierra Leone, which provides direct income support to the most vulnerable.”

Dr Francis Kai-Kai, the Minister of Planning and Economic Development and the National Authorising Officer said: “In addition to testing the resilience of our people and our healthcare systems, coronavirus (COVID-19) will have a significant impact on businesses and the economy. The Government of Sierra Leone’s response recognises that we must maintain economic stability and mitigate the impact of the COVID-19 shock on businesses, jobs and households, while minimising the human toll of the disease.

Our “Quick Action Economic Recovery Programme” aims to ensure essential commodities are available and maintain price stability, support hardest-hit businesses to enable them to continue operations, provide safety nets to vulnerable groups, support labour-based public works, and provide assistance for the local production and processing of staple food items. By aligning its support to the needs of our nation at this time, the European Union has demonstrated the strength of its commitment to our continuing development partnership.”

 

Bank of Sierra Leone Creates Special Credit Facility for Covid-19 Pandemic

Bank Governor Kelfala Kallon

By Amin Kef Sesay

According to what was understood by this Press, in the Monetary Policy Statement issued on 19th March 2020, the Bank of Sierra Leone decided to create a Special Credit Facility of Le500 billion to support the production, procurement, and distribution of essential goods and services in order to soften the expected economic impact of the COVID-19 Global Pandemic on Sierra Leone.

In that regard the BSL is issuing the following rules and procedures for administering said Facility:  The Facility (of Le500 billion) is hereby created as part of a set of measures designed to soften the negative economic impact of the COVID-19 Pandemic on Sierra Leone.

It continued that the said Facility shall remain in force until it is terminated by the BSL, subject to the proviso that the BSL shall notify the public about its termination three months prior to it being terminated.

In another development, in consultation with the Ministry of Trade and Industry, the BSL hereby publishes the attached List of Essential Goods that qualify for this Facility: Activities that lead to the production, procurement or distribution of commodities on the list shall be financed under this Facility.

Only businesses which generate at least 75 percent of their revenues from operations in Sierra Leone shall be eligible to participate in the Facility. Loan applicants who have defaulted on loans in the last five (5) years or have existing non-performing loans shall not be eligible to participate in this Facility.

Politically Exposed Persons or entities shall not participate in this Facility. Bank of Sierra Leone. In terms of responsibilities of participating commercial Banks those banks shall use their existing underwriting procedures to process loan applications under the Facility.

Besides, all applications for funding under this Facility shall be reviewed and approved by the Credit Committees of the participating commercial banks.

In addition, participating commercial banks shall ensure that loans granted under this Facility are backed by adequate collateral, which shall be registered at the Collateral Registry at the BSL.

Moreover, participating commercial banks shall submit to the Banking Supervision Department of the BSL all supporting documents used in the evaluation of approved loans under this Facility.

Finally, all relevant information on the credit history of approved applicants for loans under this Facility shall be submitted by the participating banks to the Credit Reference Bureau at the BSL for credit information purposes. When it comes to prohibited activities Funds accessed under this Facility shall not be used for any purpose other than what is stated in the loan application.

More specifically, funds disbursed under this Facility shall not be used to: a) repay any existing loans or loans contracted under any other facility. b) invest in any asset, including but not limited to money market instruments, especially government securities.

Talking about penalties for engaging in prohibited activities the penal interest rate that existed at the time the loan was approved plus a five (5) percent penalty shall constitute the lending rate for borrowers under this Facility who engage in any prohibited activity.