Minister Of Finance Hosts World Bank’s Executive Director

The world Bank substantive Executive Director for Africa group 1 constituency, Dr. Tafufila Nyamadzabo has on Monday 6th December 2021 in a courtesy visit to the Minister of Finance, Mr. David K. Vandi commits to the Bank’s continued support to the new direction Government.

Dr. Nyamadzabo who is on a three-day working visit in Sierra Leone thank the Government of Sierra Leone for the support in electing him into the office and that his visit is aimed at discussing fiduciary issues and getting a proper understanding of the challenges of the Country.

The executive director highlighted his five (5) workable key objectives he hopes to achieve, which includes advocating for more resources, involvement of Private sector in more job creations, engagement with member state in implementing programmes/ projects, ensuring that Africans are well represented in the structures of the World Bank and International Monetary Fund and capacity building to ensure nations are self-reliant.

In his statement, the Minister of Finance Dennis k. Vandi welcomes and congratulates the executive director on his new appointment. He thanked the World Bank for the disbursement of a 100-million-dollar budget in 2020 and the COVID-19 project grant of 16.5 million dollars.

He continued that the country is looking forward to further disbursement of budget support for the year 2021 of 75 million dollars, adding that the country is implementing several reforms and automation of its tax systems to increase domestic revenue generation.

The Minister of Finance further appraised his guest of the strides 0fr the Bio lead administration in the area of Human Capital development, the Free Quality education Programme, Health, Agriculture, financial management reforms, and the progress so far in the government effort to improve on transparency and accountability, and the fight against corruption.

He thanked the World Bank board for the approval of the Free Quality Education project and seek for further support in the provision of teaching and learning materials on school while the government continues to pay school fees, exams, feeding, and transportation cost.

Minister Vandi explained the efforts of the government to improve its Country Policies and Institutional Assessment (CPIA) ratings to move from 3.1% in 2020 to a much higher rating to unlock the potential to access more funds to support the country’s budget.
In his response to the issues raised by the Minister, Dr. Tafufila Nyamadzabo commend the government on the FQE programme and assured him of the Bank’s support. He added that suspension of the Auditor General needs to be addressed to ensure transparency in the processes of the Auditor general’s report.

He advised that to attract more funds, the project implementation should be timely, procurement procedure, Efficiency in budget implementation and reduce bottle-necks.

He advised that priority be given to the suggestion and recommendations made during the recent portfolio review in addressing the challenges of delay in procurement procedures, faster disbursement of funds, improving the PFMU unit, timely approval of management decision and that advised that the resources provided should be utilized.

The executive director congratulated the Country on its response to the COVID-19 pandemic and stressed the need to rollout more vaccines.