At the High-Level Sierra Leone Investment Roundtable on Renewable Energy and Food Security, President Julius Maada Bio of Sierra Leone was able to successfully secure pledges totalling USD$800 million from international development and financial institutions. In cooperation with the Presidential Initiative on Climate Change, Renewable Energy, and Food Security in Sierra Leone, the OPEC Fund for International Development hosted an event on Monday, June 24, 2024, in Vienna, Austria.
During the event, announcements were made regarding USD$250 million from the Arab Bank for Economic Development in Africa (BADEA), USD$90 million from the OPEC Fund, USD$90 million from the International Fund for Agricultural Development (IFAD), USD$130 million from Africa50, and USD$80 million from the Qatar Fund for Development. The goal of these funds is to support a range of projects and investments in the renewable energy and agriculture sectors in Sierra Leone.
Dr. Abdulhamid Alkhalifa, President of the OPEC Fund, praised President Bio for his leadership during the event’s high-level segment and stressed the significance of energy and food security for development. He declared that the OPEC Fund would provide USD 250 million to help Sierra Leone with its development needs. Likewise, Dr. Sidi Ould Tah, President of BADEA, emphasized the vital role of food and energy security in Sierra Leone by praising President Bio for his leadership and announcing a $250 million commitment.
President Bio, who co-chaired the High-level segment, thanked the Arab Coordination Group, Multilateral Development Banks, and other Development Finance Institutions for their continued support of Sierra Leone and thanked the OPEC Fund for hosting the Investment Roundtable. He emphasized the common goal of seeing Sierra Leone in Africa prosper and have plenty of opportunities in the future.
The Hon. Dr. Kandeh Kolleh Yumkella moderated the High-level Investment Roundtable, which offered a forum for talks about the significance of food security and renewable energy in Sierra Leone’s development agenda. To support sustainable projects and initiatives in these important sectors, the pledges raised at the event will be significant. This will ultimately support the resilience and economic growth of the nation.
Sierra Leone’s development journey has reached a significant milestone with President Julius Maada Bio’s successful acquisition of USD$800 million in pledges for food security and renewable energy. This shows strong international support and a commitment to advancing sustainable solutions for a brighter future.
