President Bio, First Bank Group explore blended financing to fast-track Sierra Leone’s Infrastructure and Industrial Growth

Sierra Leone’s President Julius Maada Bio welcomed a delegation from First Bank Group to State House in Freetown to discuss financing for infrastructure and industrial development. Mr Olusegun Alebiosu, First Bank Group’s Group CEO, led the visiting team, which included senior engineering executives and international directors. They met with the President, the Bank’s Sierra Leone Country CEO, the Board Chair, and Sierra Leone’s Finance Minister, Hon. Sheku Ahmed Fantamadi Bangura.
The discussions focused on innovative financing mechanisms that aim to accelerate investment in priority sectors, particularly roads, electricity, water supply, bridges, and industrial infrastructure. Finance Minister Fantamadi Bangura emphasised the government’s commitment to moving beyond traditional aid models and adopting blended financing approaches that combine public resources, private capital, and concessional funding. He emphasised that Sierra Leone’s mineral wealth and agricultural potential provide a solid foundation for long-term financing arrangements.
“Our priority is to ensure that technical engagements move quickly toward concrete financing structures and implementable agreements that can unlock critical infrastructure investments,” the Finance Minister stated, emphasising the importance of translating ongoing technical work into bankable projects and financing frameworks.
First Bank Group CEO Olusegun Alebiosu emphasised the bank’s extensive experience in infrastructure financing throughout Africa, arguing that targeted investments in roads, power, water systems, and industrial facilities are critical to increasing productivity and stimulating economic growth. He described blended finance as one of the most effective tools for raising the large amounts of capital needed for transformative development projects.
Mr Alebiosu went on to explain that First Bank can structure transactions using future commodity revenues and mineral royalties as collateral, enabling governments to accelerate development interventions without being constrained by traditional budgetary cycles. He also assured the Sierra Leone government that any engagement would be carried out in a transparent manner, with strong local coordination and sound financial governance.
First Bank, founded in 1894, operates in six African countries, has a headquarters in Paris, and has a presence in the United Kingdom, according to Mr Alebiosu, who emphasised the bank’s regional footprint and international experience.
President Bio welcomed the discussions and linked the proposed financing frameworks to his administration’s “Big Five” development priorities of agriculture, fisheries, mining, tourism, and manufacturing. The President emphasised that inadequate infrastructure remains a major impediment to Sierra Leone’s economic growth and private sector expansion, and directed that concrete project pipelines and financing structures be developed as soon as possible. He assured the visiting delegation that the government would fully cooperate in creating an environment conducive to successful implementation.
The Sierra Leone government described the meeting as a significant step toward mobilising investment to unlock the country’s long-term development potential. Participants stated that follow-up work will focus on turning technical discussions into actionable financing agreements.