AfDB Approves $500 Million Strategy to Boost Sierra Leone’s Economy

The African Development Bank Group (AfDB) has approved a new five-year Country Strategy Paper (CSP) for Sierra Leone covering 2025 to 2030. The plan includes $500 million to support economic growth, improve resilience, and promote inclusive development.

It aligns with the Government of Sierra Leone’s Medium-Term National Development Plan and Vision 2030 and is expected to attract an additional $2.1 billion in co-financing from development partners.

The strategy prioritizes infrastructure expansion and agricultural improvement to drive private sector growth, job creation, and food security. It seeks to reduce the country’s heavy dependence on food imports currently around 70 percent for staples like rice by boosting local production and processing. The plan is expected to create more than 500,000 jobs, particularly for women and young people.

In infrastructure, the strategy aims to raise electricity access from 41 percent to 60 percent by 2030. It also targets climate-resilient road upgrades and water system improvements to reach an additional 1.2 million people.

The CSP integrates climate response, gender equality, and digital innovation. A key component is the Affirmative Finance Action for Women in Africa (AFAWA) initiative, which will support women-led agribusinesses and strengthen supply chains through digital solutions.

Implementation will involve collaboration among government institutions, the private sector, civil society, and development partners, with emphasis on environmental and social safeguards, private sector growth, and support for small and medium-sized enterprises.

According to the AfDB, the strategy is expected to boost agro-industrial development, expand small business opportunities, and move Sierra Leone closer to achieving Vision 2030 by improving food systems and reducing inequalities nationwide.