The new Resident Representative of the International Finance Corporation (IFC), Mr. Babacar S. Faye, on the 26th February, 2020, paid a courtesy call on the Sierra Leone Investment and Export Promotion Agency (SLIEPA) at its Head Office, Tower Hill, Freetown.
The visit of Mr. Faye, according to him was to familiarize himself with the Agency and to understand its functions and activities being a working partner of his Organization. He said that they as an organization, sits between the country and investors; noting that part of their work is to finance bigger projects that can take their advice. IFC would work with the Government towards the success of the National Development Plan 2019-2023, he said.
Having welcomed Mr. Faye, the Chief Executive Officer (CEO) of SLIEPA, Mr. Sheku Lexmond Koroma, appreciated his visit and mentioned his Agency’s engagement with IFC at various levels. He explained that SLIEPA was formed by an Act of Parliament in 2007 to promote investment and export in Sierra Leone. He further highlighted some of the key activities the Agency has been implementing in relation with investment promotion and export development.
CEO committed SLIEPA to a continued working relationship with IFC in order to strengthen the partnership and leverage the objectives of the two organizations.
The Acting Director of Investment Promotion of SLIEPA, Mr. Victor Bangura, also provided a detailed explanation of the Agency’s operations in generating and promoting investment including providing aftercare services to established investments. He called on IFC to see ways how they could work with SLIEPA to formulate structures to interact with targeted potential investors and concluded by requesting for training of SLIEPA staff in investment generation and promotion.
Also, Mr. Bobson Margai, the Acting Director of Export Development of SLIEPA, said they have been conducting training for agribusinesses along the export value chain on certification schemes, standard compliance, market linkages, business to business meetings; while the Export Development Mr. Henry Fofanah, explained how the Agency has been embarking on export promotion.
IFC is a sister organization of the World Bank and member of the World Bank Group. It is the largest global development institution focused on the private sector in developing countries. The Bank Group has set two goals for the world to achieve by 2030: end extreme poverty and promote shared prosperity in every country.
They leverage their products and services as well as products and services of other institutions across the World Bank Group to create markets that address the biggest contemporary development challenges. They apply their financial resources, technical expertise, global experience, and innovative thinking to help their clients and partners overcome financial, operational, and other challenges.
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