By: Saidu Jalloh
In a significant step toward Sierra Leone’s private sector transformation, the World Bank has concluded a comprehensive review of the Sierra Leone Economic Diversification Project (SLEDP), confirming that the initiative remains on track for successful closure by October 2025.
The review findings were presented during a high-level meeting held on June 23, 2025, showcasing major achievements in job creation, business reform, and tourism development.
The World Bank delegation, led by Task Team Leader Madam Alari Ijilayoh Mahdi, met with Acting Minister of Finance, Mrs. Kadiatu Allie, to present the mission’s conclusions. The meeting was attended by several key government officials, including Financial Secretary Mr. Matthew Dingie, Principal Deputy Financial Secretary Mr. Samuel E.B. Momoh, Chief Economist Mr. Alimamy Bangura, SLEDP Project Coordinator Mrs. Mary Jalloh, and Technical Adviser to the Minister, Dr. Franklin Sisabu Bendu. Also present were World Bank Country Manager Mr. Abdu Muwonge and Co-Task Team Leader Madam Louise Twining-Ward.
In her opening remarks, Acting Minister Allie praised the World Bank for its continued support across various sectors of the economy.
Project Coordinator Mrs. Mary Jalloh explained that the review mission aimed to assess the project’s readiness for closure. She noted that technical consultations were held with all implementing agencies, including contractors and supervising consultants, and that field visits to ongoing project sites offered valuable insights into progress and implementation challenges.
Financial Secretary Mr. Dingie expressed appreciation to the World Bank for its pivotal role in Sierra Leone’s development. He commended the SLEDP team for its achievements thus far and emphasized the urgency of completing all remaining activities before the October deadline.
Madam Mahdi highlighted the project’s transformative impact, emphasizing that SLEDP has effectively addressed key private sector challenges through three main pillars: national policy reform, sector-focused initiatives (particularly in tourism), and direct firm-level support. She pointed out that these efforts have streamlined business processes and stimulated economic activity.
For instance, the time required to obtain a construction permit has been reduced dramatically from 182 days to just 14. Similarly, reforms within the National Investment Board have significantly accelerated business registration processes.
SLEDP has reportedly created over 14,000 direct and indirect jobs. Additionally, the establishment of a collateral registry has unlocked over US$600 million in private capital, while tourism arrivals have doubled figures expected to rise further with the near completion of major tourism infrastructure.
Madam Mahdi confirmed that all project development objectives have been met, with outstanding targets likely to be achieved before project closure. However, she cautioned that long-term success depends on sustained attention to asset maintenance, environmental protection, and effective waste management. She urged the Ministry of Finance to expedite the completion of remaining activities.
In her closing remarks, Acting Minister Allie commended the project team for their commitment and called for continued collaboration with contractors. She assured the World Bank that issues identified during the mission would be addressed in partnership with relevant stakeholders.
Mrs. Mary Jalloh, reaffirming the project team’s dedication, thanked the Acting Minister and the Financial Secretary for their continued support and pledged to ensure the project’s timely and successful conclusion.