June 7, 2021
By Alhaji Haruna Sani
The Government of Sierra Leone through the Ministry of Planning and Economic Development (MoPED), and the United Nations Systems in Sierra Leone, will be convening a High-Level Dialogue on the Sierra Leone Integrated National Financing Framework (INFF) at the Radisson Blu Hotel on Tuesday, June 8th 2021
The Dialogue aims at discussing the INFF and the way forward for enhanced Medium-Term National Development Plan (MTNDP) resource mobilization through various recommendations highlighted in the document. The half-day event will feature a keynote address by the Vice President of Sierra Leone, Dr Mohamed Juldeh Jalloh.
“Additionally, statements will be made by Dr Francis Kai-Kai, the Minister of MoPED, Mr Dennis Vandy, the Minister of Finance, UN Resident Coordinator Babatunde Ahonsi and UNDP Resident Representative Pa Lamin Beyai, followed by a high-level panel discussion”, it reads.
The INFF prescribes instruments and policies the Government may use to promote growth and resource mobilisation towards financing of the MTNDP and Sustainable Development Goals. It builds on a development finance assessment conducted during MTNDP development that scanned the financing landscape for a comprehensive picture of existing and potential sources of public and private finance and development finance, mapped trends, and assessed opportunities.
This entailed a nationwide consultative process, bringing together experts in development finance, Government MDAs, Local Councils, NGOs/CSOs, and the private sector.
The INFF presents 18 financing options resulting from the assessment and lists key stakeholders for each option as well as a timeline for implementation.
The release further states that at the meeting on 8 June, panel members from a broad spectrum of society, including development partners, MDAs, parliamentarians, and civil society will discuss how to implement, among others, the following INFF financing options increase government tax revenues, promote investment by the diaspora, encourage public sector banks to increase private-sector lending, and promote the investment of pension assets in infrastructure.
“The United Nations Development Programme (UNDP) supported the Government of Sierra Leone for the development of the INFF and is currently working, along with the UN Capital Development Fund (UNCDF), to support several MDAs in implementing INFF recommendations through a program funded by the global Joint SDG Fund.”