By Jariatu S. Bangura
Parliament has ratified a €12 million financing agreement between the European Commission and the Government of Sierra Leone aimed at improving the country’s business environment and competitiveness under the “Business Environment and Competitiveness for Sierra Leone” (BEC4S) initiative.
Leader of Government Business, Hon. Mathew Sahr Nyuma, highlighted the government’s commitment to consistent policies and systemic reforms, particularly in combating corruption.
He noted that the agreement explicitly outlines measures to enhance transparency and accountability, with Article 3(c and d) emphasizing strict adherence to transparency during implementation.
Hon. Nyuma also called for effective utilization of the funds, political dialogue during implementation, and a focus on delivering tangible benefits to citizens. “While grants come in yearly, their impact on people’s lives remains minimal. This agreement must create real change,” he stressed.
Deputy Minister of Finance II, Bockarie Albert Kalokoh, assured Parliament that the government will ensure rigorous monitoring and implementation through a steering committee. He noted that securing the grant from the European Union required meeting strict benchmarks, including on-the-spot inspections by the EU.
Minister Kalokoh emphasized that the project will focus on enhancing competitiveness and attracting future investment, particularly in areas such as aquaculture, which he described as a growing sector.
He reaffirmed the ministry’s commitment to adhering to Parliament’s recommendations.
The ratification is expected to pave the way for substantial reforms to attract investment and drive economic growth in Sierra Leone.
