The World Bank has signed a ten million dollar agreement with the Government of Sierra Leone in support of the Fourth Governance Reform and Growth Credit. According to a World Bank statement the credit is aimed at helping the government continue with the implementation of the country’s Agenda for Change priorities. The World Bank Country Manager for Sierra Leone, Vijay Pillai, said “the measures supported by the credit were expected to have a positive impact on poverty reduction and economic growth in the country.”    The World Bank agreement will build on previous support to the government’s efforts with policy and institutional reform measures to protect poverty reducing spending priorities in the budget; and strengthen the impact of public spending by pursuit of procurement and public sector reforms.   It will also strengthen domestic revenue mobilization in order to make available additional resources for development; and improve the prospects for private sector development by ensuring improved provision of electricity.    This Bank support is provided in the context of the multi-donor budget support framework whose other partners include the United Kingdom Department for International Development (DFID), the European Commission (EU), and the African Development Bank (ADB). 

The survey for the construction of the Regent-Grafton- Jui Junction Road in the Western Area Rural District into a dual carriage way has already been completed.     The Assistant Public Relations Officer of the Sierra Leone Road Authority (SLRA), Sorie Kanu told CTN that bidding for the award of contract for the construction of the seventeen kilometer road was yet to be advertised. He said the Hill Station-Regent-Grafton-Jui road project was part of President Koroma’s vision for what he called a ‘Ring-Road’ system in the Western Area. He said the ring road system would help to address the current vehicular traffic congestion in Freetown and ease the transportation of passengers and goods to and from the capital Freetown and the regions. Mr. Kanu said the demolition exercise and subsequent compensation of property owners on what he described as ‘legal right of way’ would precede the construction work. The construction route for the extension of the road would go through some cemeteries in the mountain rural villages but areas would be identified for reburial purposes.  

The Consumer Price Index (CPI) released by Statistics Sierra Leone (SSL) has shown a slight decline in the rate of inflation for October.

The senior budget management officer in the Ministry of Finance has defended decision to cut the proposal made by the Political Parties Registration Commission (PPRC) in its 2011 budget.