LocationsUNDP supports public-private dialogues to mobilize sustainable development financing in Sierra Leone
October 10, 2024
Dr. Edward Hinga Sandy, Executive Director of the National Investment Board addressing the participants
In a significant advancement towards sustainable development financing, the United Nations Development Programme (UNDP) recently supported a series of Public-Private Dialogues (PPDs) in Sierra Leone organized National Investment Board (NIB). This initiative leverages insights from the Sierra Leone SDG Investor Map, aiming to enhance private sector participation and investments in the identified Investment Opportunity Areas (IOAs).
Under the theme "Pathways to Public-Private Investment: Beaming Light on the SDG Investor Map," the NIB held three dialogues in Makeni, Bo, and Freetown. These events were designed to promote private sector investments in key sectors, helping align the country’s development objectives with sustainable financing efforts.
Speaking at the Freetown dialogue, Mabuara Tsuene, UNDP Economic Advisor, highlighted the significance of private- public dialogues , noting their potential to revolutionize Sierra Leone's investment offer.
“Today’s session is another platform for bridging the gap between public policy imperatives and encouraging greater private sector investment by sharing insights, perspectives, and ideas for increased private sector investment in the identified opportunity areas and sectors, ”she said.
Mabuara Tsuene, Economic Advisor of UNDP Sierra Leone delivering her statement at the Dialogue in Freetown.
The Sierra Leone SDG Investor Map has highlighted four key sectors for investment: agriculture, energy, health, and education. Proposed investment opportunity areas include agro-processing, renewable energy, tertiary education, and health diagnostics, each presenting a detailed analysis of market potential, risks, and expected returns.
"The SDG Investor Map serves as a market intelligence tool, helping the private sector align investments with government policies and national development goals," said Dr. Edward Hinga Sandy, Executive Director of the National Investment Board. He emphasized the importance of institutionalizing public-private dialogues to assess financing needs and to support the development of a comprehensive national financing framework that will attract and harness private investment.
Dr. Edward Hinga Sandy, Executive Director of the National Investment Board.
Sam Kpaka, Development Secretary from the Ministry of Planning and Economic Development (MOPED), highlighted the critical role of the private sector in achieving Sierra Leone’s Medium-Term National Development Plan (MTNDP) and the Big 5 Game Changers. "Without a developed private sector, achieving these goals is impossible," Kpaka said, stressing that the private sector is vital for driving growth and realizing national priorities.
The Sierra Leone SDG Investor Map is expected to contribute significantly to the country’s Integrated National Financing Framework (INFF) initiative. This framework aims to broaden private sector investment and enhance participation in the country’s priority sectors. By providing comprehensive market intelligence, the Investor Map will guide investments that align with both development needs and government priorities, ensuring that private capital contributes meaningfully to sustainable development in Sierra Leone.
The UNDP, through its continued partnership with the National Investment Board and other stakeholders, is committed to supporting the growth of private sector investment as a critical driver of sustainable development in Sierra Leone
A group photo of participants at the Freetown Private-Public Dialogue organise dby National Investment Board.
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