The World Bank has approved an $80 million financing initiative to help Sierra Leone address pressing economic challenges and enhance its resilience against future crises. This announcement, made on December 13, 2024, signals a significant effort to support the nation’s recovery and development.

The package includes $60 million in direct budget support and $20 million allocated through a Catastrophe Deferred Drawdown Option (Cat DDO), designed to assist in responding to natural disasters. These funds aim to stabilize the economy while fostering reforms in fiscal management, energy access, financial sector stability, and climate resilience.

Sierra Leone has faced significant setbacks over the years, including the Ebola epidemic, natural disasters, and the COVID-19 pandemic, which have compounded economic instability. Policy adjustments supported by this financing package are expected to address these challenges and set the stage for sustainable growth.

According to World Bank representatives, the reforms under this initiative will focus on increasing domestic revenue, enforcing spending discipline, and promoting private sector participation in the energy sector. Improving the performance of the Electricity Distribution and Supply Authority (EDSA) and strengthening climate resilience are also central goals of the plan.

This operation is part of a broader strategy tied to Sierra Leone's Medium-term National Development Plan (2024–2030) and builds on earlier initiatives aimed at inclusive and sustainable growth. Officials emphasize that the package lays a foundation for long-term economic stability and poverty reduction while preparing the nation for future shocks.