Rédaction Africa Links 24 with Lamin Kargbo
Published on 2024-03-21 13:00:28
The European Union (EU) has made a significant commitment to Sierra Leone by pledging a grant of Euro 12 million to support economic growth, job creation, and enhance the country’s business environment. This grant, signed at the Ministry of Finance in Freetown on March 20, 2024, marks a crucial milestone in the longstanding partnership between the EU and Sierra Leone.
During the signing ceremony, Mathew Dingie, the Financial Secretary of the Ministry of Finance, outlined the strategic direction of the grant. He emphasized the importance of supporting small and medium enterprises (SMEs), particularly those involved in exporting goods, by improving their capabilities and ensuring compliance with global standards. Dingie highlighted the grant’s role in initiating essential business reforms, creating a conducive environment for entrepreneurship, and simplifying registration procedures.
Ambassador Manuel Muller, speaking on behalf of the European Union, reiterated their commitment to collaborating with the Sierra Leonean government, private sector entities, development partners, civil society organizations, and local communities. Muller stressed the significance of enhancing the competitiveness of local micro, small, and medium-sized enterprises (MSMEs) to drive innovation and economic growth. He outlined plans to improve access to quality non-financial business development services and build the capacity of MSMEs for expansion. Muller also announced a focus on establishing a national quality system through the grant to promote market access and ensure a transparent and consistent business environment with investor-friendly regulations, compliance with international agreements, streamlined administrative procedures, and anti-corruption measures.
Minister of Finance, Sheku Ahmed Fantamadi Bangura, praised the EU grant as a symbol of the enduring partnership between Sierra Leone and the European Union that has spanned nearly a century. He emphasized the importance of enhancing the quality of Sierra Leonean products to compete globally and advocated for increased institutional support such as the Standards Bureau.
The EU’s commitment to supporting Sierra Leone’s economic growth, job creation, and business environment through this grant demonstrates a shared vision for fostering sustainable development and prosperity in the region. This partnership reflects a dedication to strengthening the local economy, promoting entrepreneurship, and enhancing the competitiveness of MSMEs to drive innovation and prosperity in Sierra Leone.
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