Sierra Leone could receive US$40 million in World Bank budget support before the end of December, Finance Minister Karefa Kargbo has said, although the proposed financing remains subject to reforms, assessment and institutional approvals.

Kargbo discussed the anticipated support during the 2026 Annual Meetings of the International Monetary Fund and World Bank Group in Bangkok, Thailand, which are taking place from 12 to 18 October at the Queen Sirikit National Convention Center.

The funding has not been confirmed as approved or scheduled for disbursement. Its release would depend on the completion of policy actions, a World Bank assessment and the necessary institutional approvals.

Procurement and supervision concerns

The Finance Minister acknowledged that delays in procurement approvals, including required no-objection clearances, had affected development projects supported by external partners.

He also identified poor contractor performance, inadequate monitoring and weak project supervision as concerns. According to Kargbo, some development-partner-funded projects suffered significant setbacks, while others were reportedly abandoned because of procurement difficulties and weaknesses during implementation.

The issues come as the Government works to complete outstanding reform measures. Senior Ministry of Finance officials in Freetown, as reported by the source, said the measures were expected to be completed by 31 October, ahead of a World Bank review reportedly scheduled for November.

Parliament was also expected to resume sittings on 16 October following a reported summons issued by President Julius Maada Bio through the Speaker of Parliament. The legislature’s expected return forms part of the broader institutional context surrounding the pending reform measures.

Separate agricultural grant

The anticipated budget support is distinct from a separate US$40 million International Development Association grant approved by the World Bank on 18 June for the Sustainable Agricultural Value-chains Intensification for Growth project.

The World Bank’s development portfolio in Sierra Leone was valued at nearly US$1.2 billion in an official announcement dated 1 September. The portfolio covers agriculture, energy, water, education, social protection, governance, digital development and private-sector growth.

World Bank Vice President for Western and Central Africa Ousmane Diagana met Finance Minister Karefa Ansumana Francis Kargbo in Freetown on 10 September. The engagement focused on cooperation, project implementation and accountability, according to the source.

While the Finance Minister remains hopeful about the prospective budget support, the financing cannot yet be treated as approved or guaranteed. Its status will depend on Sierra Leone’s reform progress and the World Bank’s subsequent review and decisions.