In a significant development, Sierra Leone has been granted a renewed opportunity for Compact Development by the Millennium Challenge Corporation (MCC).
The decision, announced on Wednesday, 13 December 2023, was made by the MCC Board of Directors, presided over by United States Secretary of State Antony Blinken.
According to Secretary Blinken, this re-selection underscores the increased confidence in the Government of Sierra Leone’s actions to address concerns previously raised by the MCC Board in September.
The proposed Compact aims to bolster the availability of reliable and affordable electricity within Sierra Leone.
In a statement, President Julius Maada Bio expressed gratitude for Sierra Leone’s fifth consecutive passing of the MCC Scorecard in November 2023.
He emphasized the MCC’s role in providing an “objective framework” to assess the country’s development aspirations, aligning with both national expectations and international benchmarks.
The Compact’s goals include boosting private sector involvement in the power supply, doubling energy transmission capacity, expanding access in specific towns, and fortifying sector governance and institutional capacity. Sierra Leone, having recently completed Core feasibility studies to define the Compact’s scope, eagerly anticipates negotiations with the MCC to finalize the process.
Minister of Information and Civic Education, Chemor A Bah, confirmed the government’s unwavering commitment to critical reforms aimed at deepening democracy, improving the investment climate, and advancing human capital development, aligning with MCC principles.
The forthcoming Compact is anticipated to tackle the pressing constraint of energy, contributing significantly to economic growth and poverty alleviation for the people of Sierra Leone.