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IMF drops $20.8 million to the New Direction Government

GOVERNMENT OF SIERRA LEONE MINISTRY OF FINANCE PRESS RELEASE The International Monetary Fund Approves Sierra Leone's Economic Performance Under the Extended Credit Facility Programme on 5th June 2023 The Ministry of Finance. in collaboration with the Bank of Sierra Leone and the National Revenue Authority, wish to inform the general public that the Executive Board of the International Monetary Fund has, on 5" June  2023, approved the Economic Performance Programme of the Government of Sierra Leone, which will trigger immediate disbursement of about US$20.8 million. It is worth noting that the global economy is currently facing challenges occasioned by unprecedented overlapping multiple crises severely impacting all countries' economic fabric. These crises have manifested into high inflation, depreciation of currencies, deteriorating external accounts, high-interest rates and rising debt levels and vulnerabilities.  The crisis has also wo

Reforms to the energy industry keep going...Moyamba to get energized soon.

The Energy Minister guarantees the completion of the Moyamba Township Electrification Project by bringing three power generation units to Moyamba.

On Tuesday, May 23, 2023, in Moyamba Town. Sierra Leone's Minister of Energy, Alhaji Kanja Sesay, has delivered three power plants in accordance with the Moyamba District Electrification Project, demonstrating President Julius Maada Bio's commitment to putting an end to Moyamba Town's 40-year energy wait.

It might be recalled that the New Direction administration had chosen Moyamba Town as one of the district headquarters towns that would gain from the Seven District Electrification Project using monies provided solely by the Government of Serra Leone. In Moyamba, the construction of poles, the laying of wires, and the installation of transformers had already been finished.

The Speaker of the Kayamba Chiefdom, Adu Boyawa, welcomed the Minister and his entourage and could not contain his excitement at the reassuring and revitalizing prospects of seeing an illuminated Moyamba. 
He commended President Julius Maada Bio and the Energy Minister for constructing 14 renewable energy plants in the Moyamba district, saying that they have improved social and economic conditions.

Alhaji Kanja Sesay, the energy minister, said Moyamba was always close to President Bio and that the township project, along with the fourteen mini grids and counting, would put the district on an exceptional and commendable energy pedestal in the nation while introducing the three thermal plants with a combined 3MW capacity.

He promised that the project will soon be finished and put into service, ending the community's 40-year wait for energy. He also explained that Moyamba town would have two sources of power generating.

Mr. Sesay urged people and stakeholders to take ownership of the facilities and use the electricity they would soon have wisely.

Ing. Dr. Tarawally, project manager for the Seven Districts Township Electrification Project, gave a summary of the overall undertaking.


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