The World Bank in Sierra Leone

About

Sierra Leone's recent history has been marred by a devastating civil war that ended in 2002. Despite significant economic growth in the years following, the country still grapples with the lingering impacts of the war, recurrent pandemics, and polarized politics, which hinder its progress. The majority of Sierra Leoneans are engaged in subsistence agriculture, yet the nation boasts abundant natural resources, including iron ore, diamonds, gold, bauxite, and rutile. Post-war governments have faced the formidable challenge of reconstructing the nation's physical and social infrastructure and promoting reconciliation. 

On June 24, 2023, Sierra Leone conducted its sixth general election since the end of the civil war. The incumbent, President Julius Maada Bio of the Sierra Leone People’s Party (SLPP), secured re-election with 56% of the vote. The ruling party also gained a majority in Parliament with 81 seats, surpassing the opposition All People’s Congress (APC), which won 54 seats. The current Parliament, unlike its predecessor, which comprised four political parties and independents, is now a two-party legislature. Post-election tensions between the ruling and opposition parties posed a risk to national stability. However, intervention by regional organizations such as the African Union and ECOWAS, with support from the Commonwealth, led to the signing of the 'Agreement for National Unity' in October 2023. This accord has been pivotal in maintaining peace.

The government unveiled the new Medium-Term National Development Plan (MTNDP) for 2024-2030, which outlines the administration's short-term and long-term objectives.

Economy

Growth slowed to 4.4% in 2025 from 5.7% in 2023, largely due to falling global iron ore prices and slower mining performance. However, despite subdued industry performance, agricultural growth recovered and was buoyed by improved crop harvest, boosted by the government's flagship "Feed Salone" program. Services rebounded as inflationary pressure continued to slow and was boosted by retail and wholesale trade. On the expenditure side, growth was supported by investments, exports and public consumption.

Growth is projected to further slow to 4.3 due to falling iron ore prices and ongoing fiscal consolidation. However, growth will recover to 4.6% by 2027 driven by household consumption due to easing inflationary pressure supported by tight monetary and fiscal stance.

The fiscal deficit is projected to narrow to 4.2% in 2025 on the back of a wider deficit in 2024 (5.6 percent) due to expenditure overruns in the fourth quarter of the year. Spending rationalization and improved domestic revenue performance is expected to support the ongoing fiscal consolidation. However, debt remains at high risk of distress, requiring stronger and more credible expenditure measures.   

This outlook is subject to several downside risks. Persistent fiscal overruns could undermine both fiscal and debt sustainability, ultimately jeopardizing macroeconomic stability. External risks include fluctuations in global commodity prices, global demand, and higher imported inflation. Additionally, weather shocks may hinder agricultural growth and poverty reduction.

Last Updated: Oct 06, 2025

Country Partnership

The Country Partnership Framework (CPF FY21-FY26), approved in May 2020, has three focus areas: (i) sustainable growth and accountable governance; (ii) human capital acceleration for inclusive growth; and (iii) economic diversification, enhanced competitiveness and resilience; and three cross-cutting themes: governance, gender, and technology. The Performance and Learning Review (PLR) was presented by the WBG Board on July 1, 2024. For the remaining period of the CPF (FY24-FY26), the PLR made changes to the Results Framework, adjustments to risk mitigation measures to align with the new National Development Plan (NDP, 2024-30), the WBG’s Evolution Roadmap, and consolidated programs further in preparation for the next CPF.

The Sierra Leone portfolio comprises 18 projects with a combined total of almost $1 billion (15 national projects totaling $745 million and 3 regional projects with a total of $245 million). The portfolio constitutes 32% Infrastructure (energy and transport), 30% Planet (agriculture and urban development), 23% Prosperity (financial inclusion and governance), and 15% People (education, social protection, and health).

IFC / MIGA

International Finance Corporation (IFC)

IFC’s Sierra Leone Country Strategy FY20-FY24 outlines three critical focus areas to support the country’s key sectors: agribusiness, energy, and SME access to finance. The Country Strategy also highlights the increasing role of the digital economy in boosting efficiency and productivity and is fully aligned with the World Bank Country Partnership Framework. Additionally, IFC’s country advisory program is focused on improving financial inclusion and strengthening the agroecosystem of key value chains.

Multilateral Investment Guarantee Agency (MIGA)

MIGA continues to actively explore opportunities to support private investment in Sierra Leone, especially in the power, telecoms, and commercial agriculture sectors, supporting independent power projects and off-grid solutions. 

Last Updated: Oct 06, 2025

Development

The Quality Essential Health Services and Systems Support Project ($60m - $40m IDA and $20m GFF) aims to increase utilization and improve the quality of reproductive, maternal, newborn, child and adolescent health and nutrition services, especially for the poor and vulnerable in five districts in Sierra Leone.

Free Education Project ($50 million) and Additional Financing ($35 million) aim to improve the management of the education system, teaching practices, and learning conditions in primary and secondary education. A total of 1.8 million students, 56,000 teachers in 7,900 primary and secondary schools have benefited from the project.

Skills Development Project ($20 million) supported increased access to demand-led skills training and helped build the foundations for a demand-led skills development system. A total of 18,277 students benefited from the training, out of which 7,565 are currently enrolled, and 10,712 completed training as of August 2022.

Productive Social Safety Net and Youth Employment Project ($42 million) aims to improve access to social safety nets and income-generating opportunities for targeted beneficiaries.

Energy: The Bank has stepped up its support to energy with an integrated strategy focusing on (i) ensuring regional energy trade with ECOWAS countries, (ii) ambitious targets for grid and off-grid energy access, and (iii) turnaround of energy sector utilities to enable private sector investment in power generation.

Smallholder Commercialization and Agribusiness Development Project reached 143,556 direct beneficiaries—43% of whom are women—exceeding the target of 40%. All PDO-level indicators have been surpassed.

West Africa Food Systems Resilience Program has made significant progress in addressing both immediate and long-term food insecurity challenges.

The Bank's support for structural reforms in Sierra Leone has been channeled through the Development Policy Operation (DPO), facilitating advancements across various sectors. 

Last Updated: Oct 06, 2025