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The public is aware that the Poverty Reduction Strategy Paper (PRSP) has been completed. Thereafter, the document was submitted to the World Bank for discussion and approval, and for the purpose of the Bank's support towards the full realisation of the implementation of programmes and projects earmarked in the said strategy document. In order to seek wider support from the international donor community at the multilateral as well as bilateral levels, a Donors' Conference will be held in Paris in June, 2005 to solicit financial support towards the full implementation of the Sierra Leone Poverty Reduction Strategy Paper. The World Bank, on its part, has announced that it has discussed and approved the Sierra Leone Poverty Reduction Strategy Paper (PRSP). The Bank's position was communicated to government under cover of a letter dated 4 May, 2005 which reads thus: "I am pleased to inform you that the Executive Board of the World Bank discussed and approved the Sierra Leone Poverty Reduction Strategy Paper (PRSP). During the discussions it was generally agreed that Sierra Leone has performed creditably well. In particular, Directors cited the government's continuous good track record of economic reforms and growth as evidence of its determination to improve the well being of its people. They therefore urged the government to stay the course of economic reforms. Directors also acknowledged the daunting challenges facing the government and advocated for increase in Bank and donors concessional resources, particularly grants and technical assistance. The issue of capacity deficiency and the need for the government with assistance of donors to develop a framework to address the problems of capacity was identified as an urgent priority. Directors also advised that, the government should prioritize the implementation of programs and projects of the PRSP in line with available resources in view of the wide financing gap. In this regard, it was suggested that the prioritization should await the outcome of the donors conference when the funds expected from the donors will be known. Directors also called on the government to intensify its internal revenue generation efforts so as to supplement donor financing. On my part, I informed the Board that the Sierra Leone government was determined to enhance its internal revenue generation efforts as a means of reducing its heavy reliance on external financing in the long term. In the short to medium term however, Sierra Leone would continue to rely more on donor support and financing. I, therefore, urged the Bank and Fund to mobilize donors to ensure that the Donors Conference in Paris is a success. Finally, I wish you, the government and people of Sierra Leone a successful implementation of the PRSP". Government is keen to realise the full implementation of the goals and objectives set out in the PRSP and seizes this opportunity to thank very immensely all those who have contributed towards its formulation. Government further wishes to thank, in particular, the World Bank and our other development partners for their continued interest and commitment to the overall development aspirations of the government and people of Sierra Leone. More especially, government acknowledges with thanks the participation of those Sierra Leoneans whose invaluable contribution and cooperation with government has made the PRSP a resounding success. Government therefore looks forward to the full participation, commitment and cooperation of all Sierra Leoneans as it strives, in collaboration with the international development community, to rid Sierra Leone of poverty and pursue the path of sustainable development and prosperity. END. |
