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World Bank Group Executive Director for Sierra Leone arrives today on 5 day visit

August 12, 2016

The Executive Director for Sierra Leone on the Boards of the World Bank Group, Dr. Louis Rene Peter Larose, is visiting the country from August 12 to 17 as part of his official mission to Sub-Saharan countries under his supervision, says a release from the Bank’s country office yesterday.

Dr. Larose is currently the Executive Director for the Republic of Sierra Leone and 21 other Sub-Saharan Africa countries on the Executive Boards of the World Bank Group [that is the Boards of the International Bank for Reconstruction and Development (IBRD), International Development Association (IDA), International Finance Corporation (IFC), and the Multilateral Investment Guarantee Agency (MIGA)].

Dr. Larose, who arrives today, the release states, will reiterate the Bank’s strong support to the post-Ebola Recovery efforts of the Government of Sierra Leone and identify strategic areas for further enhanced support, especially in the context of the new three-year cycle of support – IDA 18. He will be meeting with the authorities to discuss and better understand Sierra Leone’s development efforts, challenges and potentials for accelerated recovery and the country’s relations with the World Bank, the release adds.

That includes, Cabinet Ministers, government officials, key stakeholders and development partners, climaxing it with a courtesy call on President Ernest Bai Koroma.

“The World Bank Group’s project portfolio and support to Sierra Leone is currently at a record level in excess of US$670 million. This includes the World Bank, IFC and MIGA. IDA 18 will provide significant additional funding for supporting the recovery and development efforts of Sierra Leone. For the new program, the World Bank is currently in the process of drawing up a new Country Partnership Framework that will guide the grant and lending activities for the period FY18 to FY21,” says the release.

Dr. Louis Rene Peter Larose is from the Republic of Seychelles and has a wealth of national and international experience in banking, finance, economic and development management, among others. Prior to his appointment with the World Bank Group, he was Director for Foreign Exchange Operations at the Central Bank of Seychelles. He holds a Master’s Degree in Business Administration and a Ph.D. in Commercial Banking (specialising in International Business) from the University of Birmingham, United Kingdom.

Dr. Larose is a member of the Human Resources Committee and the Committee on Development Effectiveness on the Executive Boards of the World Bank Group. In his capacity as Executive Director, he plays a dual role of serving the interest of the Government of the Republic of Sierra Leone to ensure that the country benefits fully from the services and resources of the World Bank Group; and providing fiduciary oversight on the senior management of the World Bank Group to ensure effective implementation of development policies and strategies of its respective institutions.

Meanwhile, he is also slated tour some of the projects financed by the Bank to acquaint with progress of those projects, before he departs Freetown for Washington D.C. on Wednesday, 17 August.

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