AfDB Presents Green Growth Investment Opportunities in Sierra Leone
4 February 2013: The African Development Bank (AfDB) has published a brochure, titled ‘Sierra Leone: Investing in Environmentally Sound Economic Growth,' as part of its efforts to help Sierra Leone transition to a green economy and mobilize resources for green growth.
The brochure draws on Sierra Leone's 2013-2018 Agenda for Prosperity development strategy, which aims to achieve sustained, inclusive green economic growth for job creation and poverty reduction. It provides an overview of Sierra Leone's planned environmental activities under the Agenda's six pillars: diversified economic growth; social protection; gender; managing natural resources; accelerating human development; and international competitiveness.
Planned green growth interventions under managing natural resources, for instance, include redesigning the forestry sector's policy framework to: address competing demands and integrate issues such as biodiversity conservation, climate change, eco-tourism and forest co-management; support sustainable charcoal and fuelwood production; and create alternatives for domestic energy sources. This pillar also outlines plans to, inter alia, develop an integrated water management policy and a comprehensive land-use policy.
Priority actions include: providing safe water and improved sanitation; improving access to reliable and sustainable modern energy services; investing in climate-resilient transport infrastructure; and promoting diversification towards economic sectors with long-term potential for inclusive, sustainable growth, such as agriculture, fisheries and tourism.
AfDB estimates implementing Sierra Leone's planned green interventions will cost US$5.75 billion, with US $2.1 billion still needed. The brochure aims to help donors “understand the Government's plans and easily identify need and high-yield opportunities,” explained Florence Richard, AfDB. The brochure lists the cost estimates for each activity, the funding gap and the expected impact and return on investment. [AfDB Press Release] [Publication: Sierra Leone: Investing in Environmentally Sound Economic Growth]