The Minister of Finance, Mr. Sheku Ahmed Fantamadi Bangura, led Sierra Leone’s delegation to the Annual Meetings of the Islamic Development Bank (IsDB) Group and the African Development Bank (AfDB) Group in Algiers, Algeria from, 19th – 22nd May 2025, and Abidjan, Cote d’Ivoire from 26th – 30th May 2025, respectively.
Islamic Development Bank Group
The 2025 IsDB Annual Meetings
under the theme “Diversifying Economies. Enriching Lives,” reflected on the commitments of the IsDB Group in promoting sustainable economic growth and improving the quality of life in member countries.
The delegation participated in the statutory meetings of the IsDB and held bilateral meetings with some development partners.
The statutory meetings included: the Governor’s Dialogue, African Group Meeting, Plenary Sessions, and Governor’s Roundtable.
The bilateral meetings comprised, discussions with the Vice President of the IsDB, the President of the OPEC Fund, the Acting Director General of the IsDB Investment Institute, the Director General of the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), and the Director General of the Islamic Solidarity Fund.
These meetings addressed the status of ongoing interventions and their alignment with the Government’s Medium-Term National Development Plan 2024-2030.
The Minister of Finance, Hon. Sheku Ahmed Fantamadi Bangura, and the Chairman of the Islamic Development Bank (IsDB), H.E. Dr. Muhammad Sulaiman Al Jasser also signs the Financing Agreement for the Livestock and Livelihood Development Project on Wednesday, 21st May 2025 in Algiers, Algeria on the 3rd day of the Annual Meeting of the IsDB.
The project aims to contribute to poverty reduction, food security, and nutrition of 60,000 households, and create employment opportunities for rural women and youth in Sierra Leone.
African Development Bank Group
The Annual Meetings of the AfDB Group were held under the theme “Making Africa’s Capital Work Better for Africa’s Development”.
They brought together African heads of state and government, finance ministers, central bank governors, development partners, private sector representatives, civil society leaders, academics, think tanks and opinion leaders, NGOs, and other stakeholders.
This strategic theme focuses on identifying and harnessing Africa’s diverse capital resources – human, natural, financial, and commercial – to drive the continent’s structural transformation. The aim is to promote the transition to more inclusive, green, and resilient economies while mobilising complementary external financing through diversified partnerships.
The delegation also participated in the statutory meetings of the AfDB and held bilateral meetings with several development partners. The statutory meetings included: the Constituency Annual Meeting of BDIR 15, comprising Sierra Leone, Liberia, The Gambia, Ghana, and Sudan; the Bureau of the Board of Governors; the Joint Steering Committee of the Board of Governors; the Joint Steering Committee of the Board of Governors for the election of the President of the African Development Bank; the Governors’ Dialogue; the Governors’ Conversation with the Candidates; and the Election for the Office of the President of the African Development Bank.
Bilateral meetings were conducted with the Chief Economist, Vice President, Vice President (Energy), Vice President (Private Sector), the Chief Executive Officer of the African Trade and Investment Development Insurance (ATIDI), representatives from the Africa Legal Support Facility, Lord Collins, and the United Kingdom’s Minister for Africa. These discussions centred on the country’s portfolio performance and how the Bank can assist in areas such as energy, roads, agriculture, mining, budget support, legal support, and technical assistance.
The Annual Meetings culminated in the election of Dr. Sidi Ould Tah of Mauritania as the new President of the AfDB Group. Dr. Tah will succeed Dr. Akinwumi A. Adesina, whose second and final term will end on 31st August 2025.
Credit: MoF Communications
