High-Level Renewable Energy and Food Security Investment Round Table on Sierra Leone

Your Excellency Dr. Julius Maada Bio, President of the Republic of Sierra Leone,

Excellency Dr. Abdulhamid Alkalifa, President of the Organization of the Petroleum Exporting Countries (OPEC),

Excellency Dr. Sidi Ould Tah, President of BADEA,

Distinguished guests and participants,

Thank you for inviting IFAD to be part of this important deliberation.

President Bio, I would like to congratulate you especially for prioritizing agriculture and rural development as cornerstones of the new National Development Plan and the Feed Salone initiative.

As one of your principal agricultural partners, IFAD views this initiative as an exciting opportunity to supercharge food security, inclusive rural development, and sustainable growth in Sierra Leone.

Resilient and sustainable agricultural transformation is fundamental to human progress. It must be inclusive, and be supported by strengthened local institutions, a dynamic private sector and small-scale farmers themselves.

Excellencies,

Today’s themes are well chosen.

In order for agriculture to be resilient and sustainable it needs to be underpinned by energy reliability and food security.

Investing in a comprehensive and reliable energy supply is essential to power the agri-food system, generate employment and enhance the living conditions of rural communities.

And food security is the non-negotiable of rural development and economic growth. Without it, there is no sustainable development. No stability. No human dignity.

Together, however, by strategically linking investments in agriculture and energy, we can create opportunities for agricultural value addition and exports to drive economic development at the national level.

We must also continue to develop ambitious partnerships with the private sector, to channel additional financing to rural communities and ensure that we foster resilience and inclusivity in the food-energy nexus of Sierra Leone.

Key to this is the revitalization of rural infrastructure through investment in renewable energy, technology and innovation. All of this must be done with the challenges of climate change and environmental degradation in mind.

Excellencies,

Over the past four decades in Sierra Leone, IFAD has invested almost half a billion dollars (US$ 482.46 million) to enhance various agricultural value chains, including rice, cocoa, oil palm, livestock, and to improve financial access.

Our current portfolio stands at about US$ 163 million and with OPEC and IsDB are committing an investment of around USD $90 million to the livestock sector over the next eight years.

IFAD is committed to further strengthening its partnership with the government of Sierra Leone and others to support national priorities.

In line with the new IFAD 13 strategic plan, we will continue to invest significantly in Sierra Leone and to seek additional co-financing. The specifics of these plans will be discussed in the dedicated sessions ahead.

I look forward to hearing the rest of the discussion. Only together can we driving inclusive growth and achieve the Sustainable Development Goals.

Thank you.