The Ministry of Planning and Economic Development (MoPED) on Thursday convened the Third Quarter 2025 Ministerial Development Partnership Committee (DEPAC) Meeting at the Foreign Service Academy, Tower Hill, under the theme “Exploring Opportunities for Raising Capital Investment for Sierra Leone – Lessons from Seville (FfD4).”
The high-level forum brought together senior government officials, development partners, and representatives of the diplomatic and financial community to deliberate on innovative approaches for mobilizing development finance to support Sierra Leone’s Medium-Term National Development Plan (MTNDP) 2024–2030. The meeting was co-chaired by Madam Kenyeh Barlay, Minister of Planning and Economic Development, Madam Seraphine Wakana, United Nations Resident Coordinator, and Mr. Abdu Muwonge, World Bank Country Manager.
In her keynote, Minister Barlay highlighted the urgency of exploring new financing models in the face of tightening fiscal space, global uncertainties, and dwindling concessional flows. She said MoPED continues to engage in strategic partnerships and global forums such as the Seville Financing for Development Conference to identify innovative ways to raise and manage development capital. “We must translate international dialogue into local action — by leveraging private sector participation, improving public investment efficiency, and diversifying financing sources to deliver the Big Five Game Changers,” she emphasized.
She announced that MoPED has secured €200,000 from the Government of Germany to strengthen coordination mechanisms and reaffirmed that the Big Five Game Changer Dashboard will be launched with UNICEF on 1st December 2025.
Presenting the macroeconomic and fiscal outlook, Hon. Sheku Fantamadi Bangura, Minister of Finance, said Sierra Leone’s economy has shown remarkable resilience despite global headwinds. He noted that inflation had sharply declined from 54.5% in October 2023 to 5.36% in September 2025, reflecting the Government’s prudent fiscal and monetary management. The exchange rate, he added, has remained largely stable, supported by disciplined expenditure controls and stronger domestic revenue performance.
He explained that fiscal consolidation measures under the current reform program have improved debt sustainability and boosted investor confidence. “Our priority is to sustain this macroeconomic stability while creating fiscal space for productive investment. We are therefore focusing on enhancing tax compliance, broadening the revenue base, and deepening the digitalization of public finance systems,” he said.
Minister Bangura further noted that public investment efficiency remains central to achieving the MTNDP targets, stressing that every leone spent must deliver maximum impact. He reaffirmed that the forthcoming 2025 National Budget will be framed around “Enhancing Traditional and Innovative Sources of Domestic Revenue Mobilization to Finance the Big Five Game Changers”, emphasizing efficiency, equity, and accountability in public spending.
Delivering a presentation on Exploring Options for Raising Development Finance – Lessons from Seville, Dr. Sheka Bangura, Director of Planning, Policy and Research at MoPED, underscored that the global financing landscape is evolving rapidly and Sierra Leone must position itself strategically to harness emerging opportunities. Drawing from the Seville Financing for Development Conference, he identified four priority areas: diversifying funding sources, strengthening domestic capital markets, enhancing public–private partnerships, and leveraging innovative financial instruments such as green bonds, diaspora bonds, and blended finance.
Dr. Bangura stressed that development finance can no longer rely solely on traditional aid flows. “Our financing strategy must evolve to integrate innovative mechanisms that mobilize private capital, climate finance, and diaspora resources — while strengthening institutional capacity to manage debt and investment portfolios effectively,” he stated. He also pointed to ongoing government initiatives to improve resource mobilization for the MTNDP, including reforms in public investment management, expenditure rationalization, and alignment between planning and budgeting systems.
Presenting on Enhancing the Public Investment Management System, Mr. Alpha Bangura, Director of Public Investment Management at MoPED, highlighted ongoing reforms to improve project appraisal, reduce inefficiencies, and minimize cost overruns under the Public Investment Programme (PIP). These include the rationalization of the PIP, deepening Local Council PIPs, implementation of the 2024 National Public Investment Management Policy (NPIMP), establishment of a Project Preparation Facility for bankable projects, development of a Public Investment Management Information System (PIMIS), and the legislation of the entire PIM framework.
In her remarks, Madam Seraphine Wakana, UN Resident Coordinator, commended the Government for its strong macroeconomic management and leadership in implementing the MTNDP. She urged sustained collaboration between ministries and partners to ensure alignment of all programs with national priorities. “The UN Country Team remains a committed partner, supporting evidence-based planning, transparent monitoring, and policy coherence to accelerate progress toward the Sustainable Development Goals,” she said.
Mr. Abdu Muwonge, World Bank Country Manager, applauded Sierra Leone’s continued macroeconomic progress and reform momentum. He called for deepened efforts to enhance domestic revenue mobilization, promote fiscal transparency, and strengthen institutional accountability. “The World Bank’s engagement is anchored in supporting resilient economic growth, expanding access to productive jobs, and ensuring that the gains of reform translate into tangible benefits for Sierra Leoneans,” he affirmed. He emphasized that DEPAC remains a valuable coordination platform for translating commitments into concrete results.
In closing the meeting, Mr. Ambrose James, Development Secretary at MoPED, expressed profound appreciation to all government ministries, development partners, and technical teams for their continued engagement and constructive collaboration. He reiterated the Government’s commitment to revitalizing the Sector Working Groups (SWGs) as part of the coordination reform agenda. “Two pilot SWGs will be jointly coordinated by MDAs and development partners to enhance results-driven coordination, strengthen accountability, and ensure DEPAC remains a dynamic platform for accelerating delivery of the MTNDP and the Big Five Game Changers,” he concluded.
The meeting reaffirmed collective commitment by the Government and its partners to deepen coordination, enhance fiscal discipline, and expand access to sustainable financing in pursuit of Sierra Leone’s inclusive development agenda
For more information, please contact Alfred Kabia at +232 79174027, or visit MoPED’s social media platforms:
Twitter (@moped2025), Facebook, or the official website at www.moped.gov.sl.
