According to bank documents, the program objectives are to: (i) improve natural resources and public sector governance; (ii) enhance inclusiveness; and (iii) improve the sustainability of development financing.
The program has three pillars:
Pillar 1 comprises reforms to improve governance in the mining and land sectors to build resilience and support sustained and inclusive growth. Sierra Leone possesses significant natural resource endowments such as minerals, arable land, forests, and fisheries. However, the exploitation of these abundant endowments has not translated into commensurate welfare gains for the majority of citizens. The reforms under Pillar 1 focus on strengthening the legal and regulatory framework in the land and mining sectors to improve governance of natural resources, build resilience and maximize revenues for inclusive economic growth. Policy Reform under the first prior action focusses on building on the enactment of the MMDA, 2021, and strengthen the fiscal regime by (i) amending the EIRA to reconcile with other prevailing legislations, and (ii) providing for a public manual to guide implementation of the EIRA. The second prior action builds on the transformative land bills supported by DPO1, and supports establishing a Land Commission Board, thereby strengthening land administration across all levels of jurisdiction and address the existing gender gaps.
Pillar 2 seeks to enhance inclusion through reforms in three areas: (i) women’s economic participation; (ii) access to quality education; and (iii) financial inclusion. The reforms address critical structural constraints to access to resources and opportunities in Sierra Leone. They are aligned with two of the SCD’s four pathways: (i) diversifying the economy and creating poverty-alleviating jobs and (ii) increasing human capital for new opportunities. Prior action 3 supports legislation that will prohibit gender-based discrimination in the labor market and improve women’s access to employment and income. Prior action 4 and 5 support reforms in the education sector: building on the technology-enabled reform implemented under DPO1 to improve the teacher management systems and by promoting updated planning and
timely implementation of previously approved policies. Prior Action 6 will support the authorities’ efforts to increase Digital Financial Services by strengthening the corresponding legal framework.
Pillar 3 has been augmented to strengthen accountability and transparency in public finance. It builds on reforms introduced under DPO1 for increased debt and procurement transparency and introduces new reforms to address crucial gaps in accountability and SOE governance. Prior Action 7 and 10 seeks to improve SOE debt transparency and governance to support the management of fiscal risks. Prior Action 8 will gradually improve transparency in public procurement, and eventually support the implementation of e-procurement. Prior Action 9 will support strengthening of the audit followup process through the adoption of clear Standard Operating Procedures (SOPs).
Smriti Seth, Furqan Ahmad Saleem, Kemoh Mansaray
Republic of Sierra Leone
Ministry of Finance
Minister of Finance
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