President Bio and BADEA President Commit to Deepening Strategic Partnership at World Economic Forum
His Excellency Dr. Julius Maada Bio, President of the Republic of Sierra Leone, has reaffirmed his government’s commitment to strengthening cooperation with the Arab Bank for Economic Development in Africa (BADEA) during a high-level engagement with Mr. Abdullah KH AlMusaibeeh, President of BADEA, on the sidelines of the World Economic Forum (WEF) Annual Meeting in Davos.
The bilateral meeting focused on reviewing the progress of BADEA-funded projects in Sierra Leone and exploring opportunities to expand collaboration in support of the country’s economic transformation agenda. President Bio provided an update on ongoing BADEA interventions and requested additional support aimed at promoting economic and social stability, sustainable growth, and job creation.
“BADEA continues to play a critical role in supporting the implementation of our Medium-Term National Development Plan through strategic investments in key sectors such as infrastructure, agriculture, and education,” President Bio noted.
The President expressed appreciation for BADEA’s recent approval of a US$60 million Trade Credit Facility, which has supported the importation of rice and other essential commodities. He further appealed for enhanced assistance in infrastructure development, as well as the establishment of a Medium-Term Trade Credit Facility to strengthen small and medium-sized enterprises (SMEs) operating in productive sectors of the economy.
In response, BADEA President Abdullah KH AlMusaibeeh commended President Bio for the comprehensive briefing on the status of BADEA-supported projects and reaffirmed the Bank’s commitment to accelerating implementation and expanding its development footprint in Sierra Leone. He also extended a formal invitation to President Bio to visit BADEA’s headquarters in Riyadh, Saudi Arabia, as part of efforts to further consolidate the long-standing partnership.
BADEA’s current portfolio in Sierra Leone stands at approximately US$85.7 million, covering five projects in the road, education, agriculture, and health sectors.
