Sierra Leone Links Possible US$40 Million World Bank Support to Reform Progress

Sierra Leone could receive up to US$40 million in World Bank budget support before the end of December, but the proposed financing remains conditional on reform progress and formal approvals.

Finance Minister Karefa Ansumana Francis Kargbo discussed the prospects during the 2026 Annual Meetings of the International Monetary Fund and World Bank Group in Bangkok, Thailand. The meetings are being held from 12 to 18 October at the Queen Sirikit National Convention Center.

The minister’s assessment does not represent a confirmed approval or disbursement schedule. The support would depend on the completion of agreed policy actions, the World Bank’s assessment and necessary institutional approvals.

Procurement and implementation concerns

Kargbo also acknowledged weaknesses affecting development projects, including delays in procurement approvals and required no-objection clearances. He identified poor contractor performance, inadequate monitoring and weak project supervision as further obstacles to effective implementation.

According to the minister, some projects financed by development partners have suffered significant setbacks, while others have reportedly been abandoned because of procurement-related difficulties and weaknesses during implementation. The source information does not identify the projects or establish whether those described as abandoned were formally terminated.

The minister emphasized the need to strengthen procurement procedures, improve contractor accountability and reinforce supervision of projects.

Reforms and World Bank review

Senior Ministry of Finance officials in Freetown were cited as saying that outstanding reform measures were expected to be completed by 31 October 2026. A World Bank review was reportedly scheduled for November.

Those milestones are significant to the possible budget support, although the financing has not been confirmed as approved or scheduled for release.

Parliament was also expected to resume sittings on 16 October following a reported summons issued through the Speaker of Parliament. The reported parliamentary timetable forms part of the broader institutional context surrounding the government’s reform agenda.

Wider World Bank partnership

The discussions come amid an established development partnership between Sierra Leone and the World Bank Group. On 10 September, World Bank Vice President for Western and Central Africa Ousmane Diagana met Kargbo in Freetown. The engagement focused on accelerating project implementation, strengthening accountability and improving the effectiveness of development financing.

The World Bank Group announced Aissatou Diallo as its Country Manager for Sierra Leone on 1 September. The announcement described the bank’s development portfolio in the country as being valued at nearly US$1.2 billion, covering areas including agriculture, energy, water, education, social protection, governance, digital development and private-sector growth.

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