By Amin Kef (Ranger)
In a very important stride towards sustainable development, Sierra Leone secured an $800 million pledge at the High-level Investment Roundtable on Renewable Energy and Food Security. Organized by the OPEC Fund for International Development in collaboration with Sierra Leone’s Presidential Initiative on Climate Change, Renewable Energy, and Food Security, the event was held on Monday June 24, 2024 in Vienna, Austria.
The pledges, announced at the event, are as follows:
1. OPEC Fund: USD$250 million
2. Arab Bank for Economic Development in Africa (BADEA): USD$250 million
3. International Fund for Agricultural Development (IFAD): USD$90 million
4. Africa50: USD$130 million
5. Qatar Fund for Development: USD$80 million
President Julius Maada Bio, alongside his team, played a pivotal role in securing this landmark funding. This achievement underscores Sierra Leone’s commitment to sustainable growth through international partnerships.
The event featured esteemed organizations, including The OPEC Fund, BADEA, Africa50, IRENA, SEforALL, IFAD, the Qatar Fund for Development, and the IAEA. President Bio expressed gratitude for the pledges, emphasizing their potential impact on advancing renewable energy and infrastructure projects in Sierra Leone.
This substantial funding aims to address key challenges in energy access and food security. The successful implementation of these funds is expected to drive the nation closer to its development goals, enhancing infrastructure and improving living standards for its people.
Dr. Abdulhamid Alkhalifa, President of OPEC Fund, who co-chaired the High-level segment, praised President Bio for his leadership, highlighting that there can be no development without food security and energy. He affirmed that the OPEC Fund’s USD$250 million pledge would support Sierra Leone’s development needs.
Dr. Sidi Ould Tah, President of BADEA, also emphasized the importance of the Investment Roundtable as an opportunity to scale up his institution’s partnership with Sierra Leone. He praised President Bio’s exemplary leadership and reaffirmed the critical nature of energy and food security for the nation.
President Bio thanked the OPEC Fund for hosting the Investment Roundtable and acknowledged the enduring partnership with various Development Finance Institutions, Multilateral Development Banks, and the Arab Coordination Group.
“Our gathering here signifies a shared vision for the future. A future where Sierra Leone emerges as the symbol of prosperity and opportunity in Africa,” President Bio stated.
The High-level Investment Roundtable was moderated by Hon. Dr. Kandeh Kolleh Yumkella, adding further prominence to the event.
