By: United for Principal

July 3, 2025, Freetown — Sierra Leone's development ambition received a significant boost as the OPEC Fund for International Development and the Sierra Leone government signed a transformative Country Partnership Strategy that will channel US$250 million into critical investments through 2030.

The agreement was formalized on Wednesday in a signing ceremony between OPEC Fund President Abdulhamid Alkhalifa and Sierra Leone’s Minister of Finance, Sheku A.F. Bangura. Alkhalifa praised the agreement as “a significant move to reaffirm our dedication and enhance our collaboration,” indicating a prolonged partnership aimed at addressing some of the nation’s most pressing issues.

This new strategy is predicated on the outcomes of a 2024 roundtable facilitated by Hon. Alhaji Dr. Kandeh K. Yumkella in Vienna hosted by the OPEC Fund, where Sierra Leone’s President Julius Maada Bio led discussions to spotlight the country’s development needs. That occasion effectively gathered an impressive US$800 million in promises from international development partners, financial institutions, and the Arab Coordination Group, showcasing the strength of purposeful collaboration to access funding possibilities.

Since its initial aid to Sierra Leone in 1976, the OPEC Fund has sanctioned more than US$230 million for initiatives in infrastructure, energy, water, and sanitation. Among the latest is a big water, sanitation, and hygiene (WASH) initiative for the Western Area/Freetown, where the most crowded communities are located.

Speaking at the ceremony, President Alkhalifa, highlighted the wider goal of the partneship

“The partnership between the OPEC Fund and Sierra Leone is about much more than financing. It is a commitment to progress: in roads that connect people, in energy projects that empower communities and in clean water systems that sustain life itself.”

The latest Country Partnership Plan aims to tackle two critical problems in Sierra Leone: food insecurity and malnutrition. Many homes in the country of 8.5 million people use more of their earnings on food, a situation made worse by weather changes, poverty, and reliance on foreign goods.

Finance Minister Mr. Bangura called the deal a key moment for lasting growth, stating

“By leveraging the OPEC Fund’s financial aid, Sierra Leone is not only boosting its recognition among global allies but obtaining cost-effective money to lead our growth while inviting trustworthy allies to participate. I am pleased to have signed this agreement on behalf of His Excellency President Bio.”.

Beyond food security, the strategy also recognizes Sierra Leone’s urgent need for new power sources. The nation experiences a power shortage despite its commitment to a green transition. As one of the 20 countries most vulnerable to climate change, Sierra Leone is determined to build climate resilience and expand clean energy. Notably, it is part of the “Mission 300” initiative to expand electricity access across Sub-Saharan Africa, a program to which the OPEC Fund has pledged up to US$2 billion.

This revived partnership highlights a common goal: long-term growth based on significant, community-focused funding that fosters enduring transformation in Sierra Leone's communities.