Ministry of Finance and Economic Development has in a press release on Wednesday 27th July, 2016 disclosed that the Government of His Excellency Dr. Ernest Bai Koroma has received the sum of USD 64.12 Million.
The sum is meant to support the Government Budget, including continuing funding for the Government’s infrastructure program; including roads, energy and water and the payment of recurrent expenditures to support the operations of Ministries, Departments and Agencies (MDAs).
The press release that was signed by Dr. Patrick S. Conteh, Minister of State Ministry of Finance And Economic Development states that the sum of USD 34.12 Million is from the International Monetary Fund (IMF) following the approval of the Fifth Review of Sierra Leone’s Performance under the Extended Credit Facility Arrangement on July 1, 2016 and funds disbursed on July 11, 2016.
He also added the sum of USD 30 Million as Capital Gains Tax following the conclusion of the sale of Airtel Sierra Leone to Orange Group.
The release also furthered that other expected disbursements include 23 Million Euros from the European Commission and USD 20 Million from the World Bank during the course of the years.
It states that these amounts will be made available to the private sector through the weekly Foreign Exchange Auction at the Bank of Sierra Leone.