Sierra Leone - Fiscal consolidation support programme (FCSP) (AFDB-P-SL-KA0-016)

Countries
  • Sierra Leone
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • African Development Bank (AFDB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Mar 14, 2019
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Government of Sierra Leone
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Law and Government
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 20.97 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ AFDB website

Updated in EWS Sep 8, 2020

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to bak documents, FCSP's overarching goal is to spur fiscal consolidation in Sierra Leone through increased resource mobilization, pro-poor budget allocation (especially for basic and secondary schools, and girls education) and strengthened budget execution oversight. In other words, the program's aim is to support implementation of the public finance management (PFM), revenue management and transparency and public expenditures effectiveness and transparency. The measures supported by the PBO are expected to have a positive impact through increasing public expenditure in line with the NDP priorities and make progress towards economic growth and poverty reduction. More specifically, the program will support key reform measures in two areas aimed at (i) strengthening revenue administration, and (ii) improving effectiveness and transparency of expenditures management.

The Fiscal Consolidation Support Programme (FCSP) in Sierra Leone aims to support the stabilization of country's macroeconomic framework and enhance revenue mobilization and public expenditures management. FSCP is a programmatic budget support series spanning two years (2019-2020) intending at the consolidation of the country's fiscal stance to carry out reforms for strengthening budgeting processes efficiency and transparency; and promoting girl's education. The programme has two mutually complementary components in order to ensure the effectiveness of public action in terms of the public finance management of the country. These two components are: (i) Improving revenue mobilization and debt management; and (ii) strengthening public expenditure management efficiency and transparency. The total programme cost is UA 15.00 million. Its implementation will provide almost 24% of the financing needs for fiscal year 2019.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

KAMANGA Fenwick Dingiswayo
f.kamanga@afdb.org

ACCOUNTABILITY MECHANISM OF AfDB

The Independent Review Mechanism (IRM), which is administered by the Compliance Review and Mediation Unit (CRMU), is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an African Development Bank (AfDB)-financed project. If you submit a complaint to the IRM, it may assist you by either seeking to address your problems by facilitating a dispute resolution dialogue between you and those implementing the project and/or investigating whether the AfDB complied with its policies to prevent environmental and social harms. You can submit a complaint electronically by emailing crmuinfo@afdb.org, b.kargougou@afdb.org, b.fall@afdb.org, and/or s.toure@afdb.org. You can learn more about the IRM and how to file a complaint at https://www.afdb.org/en/independent-review-mechanism/.

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How it works