NRA Chief Highlights Fiscal Pressure as World Bank Support to Sierra Leone Drops by $60M

Sierra Leone has experienced a sharp decline in World Bank budget support, dropping from about $100 million in previous years to $40 million in 2024, with no support expected in 2025.

This was highlighted by Jeneba Bangura, Commissioner General of the National Revenue Authority (NRA), during the IMF and World Bank Annual Meetings in Washington, D.C.

Bangura noted that similar reductions from other partners, including the United Kingdom’s Foreign, Commonwealth and Development Office (FCDO), have intensified pressure on the national budget. Often, these cuts occur after the budget has been approved, forcing the government to adjust spending plans and seek additional revenue from local sources.

“When aid is cut after the budget is approved, we are forced to adjust our spending priorities and increase domestic revenue,” Bangura said.

In response, Sierra Leone has stepped up efforts to boost domestic revenue collection, setting targets that rose by 46 percent in 2024 and are expected to grow by another 30 percent in 2025. The Ministry of Finance now monitors revenue daily, replacing the previous quarterly system, to keep pace with growing fiscal demands.

The country is also implementing tax reforms, including the Medium-Term Revenue Strategy and new digital systems, aimed at improving compliance, taxpayer services, and financial independence.

During her presentation, Bangura called for fairer global financing while emphasizing Sierra Leone’s commitment to meeting the challenges of shrinking aid.

She underscored that strengthening the domestic revenue system is critical to supporting ongoing development and ensuring fiscal sustainability.