December 15, 2017 By Ibrahim Tarawallie
The World Bank group has approved a supplementary financing of $10milion to help government meet immediate needs associated with the landslide and flooding disaster.
On august 14 this year, the capital Freetown was struck with a landslide and flooding disaster which claimed the lives of thousands and destroyed many houses. The disaster, described as the worst ever over decades, left hundreds of families homeless.
The supplementary financing is a grant provided as a supplementary budget support operation that will flow directly into the government’s budget.
Country Manager for the World Bank, Parminder Brar, told a presser in Freetown that a lot of infrastructure financing as a result of the disaster required cash supports to the government, which is why they decided to provide the additional budget support.
“This funding is very crucial in helping government meet immediate needs, as well as be used for rebuilding critical infrastructure destroyed by the landslide and flooding,” he said.
He added that the money will be a supplementary budget support to the initial $30million they made available to the government in June this year.
According to him, the $10million is coming in to the government with no extra indicators or additional conditions attached to it because of the humanitarian situation.
He disclosed that they were in the process of preparing another project of $10million, which is expected to be approved by the board in February 2018.
“Within the past thirty days, the bank has approved $90million for three separate projects. We are happy to participate and to continue supporting the government in its development strides,” he noted.
Brar assured that the bank will continue to engage government on priority areas for deployment, which could include environment protection, urban planning and improved land management.