PARLIAMENT APPROVES SEVERAL LOAN AND GRANT AGREEMENTS

PARLIAMENT APPROVES SEVERAL LOAN AND GRANT AGREEMENTS

The Parliament of Sierra Leone has on Friday 20th September 2019 debated and ratified with unanimity several loan and grant agreements which include the development of electricity generation, distribution and supply; information and communication technology; and the improvement of the transport sector in the country.

Prior to ratification, the Deputy Minister of Finance, Dr. Patricia Laverley highlighted the importance of these agreements; adding that they are in line with the transformational initiatives of the President Bio towards the development of the country.

The following agreements were ratified by Parliament:

i. Government Concessional Loan Agreement on Sierra Leone Fiber Backbone Network Project Phase III Between the Government of the Republic of Sierra Leone Represented by the Ministry of Finance as Borrower and the Export-Import Bank of China as Lender, Dated 26th August 2019

ii. Protocol of Agreement Amongst the Republic of Sierra Leone and African Development Bank and African Development Fund (As Administrators of the Transition Support Facility) in the Amount of UA23,550,000 Rehabilitation and Extension of the Bo-Kenema Distribution System, Dated 16th April, 2019

iii. Letter of Agreement Transition Support Facility (TSF) Amongst the Republic of Sierra Leone and African Development Bank and Africa Development Fund in the Amount of UA2,150, 000 (Rehabilitation and Extension of the Bo-Kenema Distribution System) Dated 16th April 2019

iv. Subsidiary Grant Agreement Between the Republic of Sierra Leone Represented by the Ministry of Finance and Electricity Distribution and Supply Authority in the Amount of UA2,150,000 (Rehabilitation and Extension of the Kenema-Bo System), Dated 23rd May 2019

v. Subsidiary Grant Agreement Between the Republic of Sierra Leone Represented by the Ministry of Finance and Electricity Distribution and the Supply Authority in the Amount of UA23,550,000 (Rehabilitation and Extension of the Bo-Kenema Distribution System), Dated 23rd May 2019

vi. Financing Agreement (Additional Financing for the Energy Sector Utility Reform Project) Between Republic of Sierra Leone and the International Development Association (IDA), Dated 17th June 2019

vii. Amendment to the Financing Agreement, Dated 17th June 2019

viii. Project Agreement (Additional Financing for the Energy Sector Utility Reform Project) Between International Development Association and Electricity Distribution and Supply Authority, Dated 17th June 2019

ix. Subsidiary Agreement Between the Government of Sierra Leone (Represented by the Ministry of Finance) and the Electricity Distribution and Supply Authority Regarding the Additional Financing of the Energy Sector Utility Reform Project, Dated 6th August 2019

x. Financing Agreement (Integrated and Resilient Urban Mobility Project) Between the Republic of Sierra Leone and the International Development Association, Dated 22nd July 2019

xi. On-lending Agreement Between the Government of Sierra Leone (Represented by the Ministry of Finance) and the Sierra Leone Cable Company (SALCAB) Through the Ministry   of Information and  Communications, Dated 22nd August 2019 and

xii. Supply Contract for Sierra Leone Fiber Backbone Network Project Phase 11 between the Ministry of Information and Communications of the Republic of Sierra Leone and Huawei Technologies Co. Ltd. Contract No.0002881900010V, Dated 11th April 2019.

Members of Parliament who spoke to the motion from both sides of the political divide supported the ratification of these agreements; adding that “they were non-controversial and therefore good for the development of the country”.

The Parliament of Sierra Leone stands adjourned until further notice (sine die).

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