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Reading: Islamic Bank Evaluates Palm Oil Production Projects in Sierra Leone
Reading: Islamic Bank Evaluates Palm Oil Production Projects in Sierra Leone

Islamic Bank Evaluates Palm Oil Production Projects in Sierra Leone

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The Islamic Bank has conducted a mission to evaluate the thirteen-year Palm Oil Production Project in Sierra Leone. Led by the Country Operations Manager, Omar Davis, the mission aims to assess the implementation process of the project and map the way forward amidst global challenges such as the COVID-19 pandemic, global supply chain, and fiscal challenges.

During a meeting at the Ministry of Finance, Davis stated that the Bank had approved a $2.4 million grant for women and youth entrepreneurship programs as part of its commitment to supporting the country’s developmental strides. Alusine Kallon, Project Coordinator of the Palm Oil Production Project, updated the mission that the project has completed its solar component and has two other components.

Kallon also mentioned that the government has disbursed over 50% of its counterpart funding, but procurement issues and bureaucracies at the port have been significant challenges to the project. The Principal Deputy Financial Secretary, Mathew Dingie, commended the Bank for its support and reiterated the government’s commitment to completing the scheme.

The team will inspect the facility at Matru Jong and visit the seaport to check on the project consignment. The Bank’s mission is part of its capacity building initiatives phase 2, which aims to support sustainable development in Sierra Leone.

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