The Government, over the years, have made some progressive steps to reform public climate finance management by establishing the Ministry of Environment and a Climate Finance Unit at the Ministry of Finance to facilitate the mobilisation of climate finance, both local and international, and to mainstream climate budgeting into government budget planning, preparation and execution processes.
Green and resilient public investment is an important enabler for a sustainable recovery; it creates jobs, spurs economic growth, addresses climate change, and improves the quality of life. It can also stimulate much-needed private-sector investment
On Wednesday, 31st January, a technical mission from the International Monetary Fund (IMF) commenced a two-week Climate Public Investment and Management Assessment Mission.
During the two weeks, the mission will engage several Ministries, Departments and Agencies as well as other government partners, including the office of the Presidential Initiative on Climate Change and Food Security, on planning for climate change, coordination, assessment of risk-related to climate change, Etc.
In a brief introductory courtesy call on the Minister of Finance, the head of mission, Bryan Battersby, commends the government for the steps taken to reform climate change by stating that during the mission, they will look at climate finance, budgeting and expenditure and the fiscal risk associated with it.
Bryan Battersby further stated that at the end of the mission, they would produce a diagnostic analysis with recommendations for the way forward and the next steps.
Minister of Finance Sheku Fantamadi Bangura welcomed the mission to Sierra Leone. He stated that this mission results from an expressed request made by President HE Julius Maada Bio during his last meeting with the Managing Director of the Fund.
The minister also said that the government is looking at building the legal and institutional framework to address climate change and access the relevant resources. He informed the mission that this exercise is critical to the aspirations in the new national development plan that focuses on going green in terms of energy and other infrastructure projects.
In his brief remarks, Financial Secretary Matthew Dingie stated that establishing the Climate Finance Unit at the Ministry of Finance shows government commitment to climate issues.
Sellu McCarthy, Head of the Climate Finance Unit, informed the gathering of other pending technical support from the World Bank on developing a Climate Finance Strategy and Climate Macroeconomic Modelling for Sierra Leone and developing a Carbon Market Mechanism by Commonwealth Development. Office.
The Climate Public Investment Management and Assessment adds a climate-responsive dimension to the PIMA framework and assesses countries’ capacity to manage climate-related infrastructure.
The C-PIMA helps governments identify potential improvements in public investment institutions and processes to build low-carbon and climate-resilient infrastructure.
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