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Sierra Leone Economic Diversification Project

Abstract*

The objective of Economic Diversification Project for Sierra Leone is to increase investment, Small and Medium Enterprise (SME) growth, and entrepreneurship in non-mining productive sectors in the Recipient’s territory. The project will consist of four components: (i) Improving Business Environment and Capacity Building component will support policy, administrative and regulatory reforms that will facilitate business entry and operation in Sierra...

* The project abstract is drawn from the PAD, SAR or PGD and may not accurately reflect the project's current nature

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Development Objective

To increase investment, Small and Medium Enterprise (SME) growth, and entrepreneurship in non-mining productive sectors in the Recipient’s territory.

Key Details

Project Details

  • P164212

  • Active

  • Alari Mahdi , Louise Twining-Ward

  • Republic of Sierra Leone

  • Sierra Leone

  • January 26, 2018

  • (as of board presentation)

    July 28, 2020

  • November 10, 2020

  • US$ 40.00 million

  • Ministry of Finance,Ministry of Tourism & Cultural Affairs,Ministry of Trade and Industry

  • Western and Central Africa

  • 2021

  • US$ 40.00 million

  • B

  • March 25, 2024

  • October 31, 2025

  • Yes

  • BANK APPROVED

  • Notes

Finances

Financing Plan (US$ Millions)

No data available.
Financier Commitments
IDA Grant 40.00

Total Project Financing (US$ Millions)

Product Line IBRD/IDA
IBRD Commitment N/A
IDA Commitment 40.00
IBRD + IDA Commitment 40.00
Lending Instrument
Grant Amount N/A
Total Project Cost** 40.00

Summary Status of World Bank Financing (US$ Millions) as of January 31, 2025

Download:
No data available.
Financier Approval Date Closing Date Principal Disbursed Repayments Interest, Charges & Fees

Detailed Financial Activity as of January 31, 2025

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No data available.
Period Financier Transaction Type Amount (US$)
Jul 28, 2020 IDA-D7020 Loan Commitment 40,000,000.00
Mar 11, 2024 IDA-D7020 Loan Disb 1,235,018.10
Jul 31, 2024 IDA-D7020 Loan Disb 532,957.60
Jul 31, 2024 IDA-D7020 Loan Disb 8,226,903.50
Mar 3, 2021 IDA-D7020 Loan Disb 2,665,294.20
Nov 17, 2022 IDA-D7020 Loan Disb 3,984,619.00
Aug 4, 2022 IDA-D7020 Loan Disb 2,649,727.00
Feb 8, 2022 IDA-D7020 Loan Disb 2,752,491.80
Nov 25, 2020 IDA-D7020 Loan Disb 1,014,437.40
Jul 26, 2023 IDA-D7020 Loan Disb 7,713,409.00

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name Review Date
Procurement Moderately Satisfactory 2024-12-27
Project Management Moderately Satisfactory 2024-12-27
Financial Management Satisfactory 2024-12-27
Overall Implementation Progress (IP) Moderately Satisfactory 2024-12-27
Progress towards achievement of PDO Moderately Satisfactory 2024-12-27
Monitoring and Evaluation Moderately Satisfactory 2024-12-27

COMPLETION RATINGS

No data available.

INDEPENDENT EVALUATION RATINGS

No data available.

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATORBASELINECURRENTTARGET
  • Amount of private sector investment leveraged through project activities, including co-investments in and from SMEs and start-ups supported by the project, and investments in upgraded destinationsValue0.009929000.006000000.00
    DateJune 30, 2020October 2, 2023October 31, 2025
    Comment
  • Average percentage increase in gross sales by firms supported by the projectValue0.0030.8015.00
    DateJune 30, 2020October 2, 2023October 31, 2025
    Comment
  • Average percentage increase in gross sales by women-owned/managed firms supported by the project.Value0.008.0015.00
    DateJune 30, 2020October 2, 2023October 31, 2025
    Comment

INTERMEDIATE RESULTS INDICATORS

INDICATORBASELINECURRENTTARGET
  • Improvement in the overall business enabling environment, as measured by selected Ease of Doing Business ScoresValue47.5047.5060.00
    DateAugust 3, 2020October 2, 2023October 31, 2025
    Comment
  • Number of public private dialogue consultations held for project activities (cumulative)Value0.0013.0030.00
    DateAugust 3, 2020October 2, 2023October 31, 2025
    Comment
  • Number of business owners visiting SME Solutions centers per monthValue0.000.00150.00
    DateAugust 6, 2018October 2, 2023October 31, 2025
    Comment
  • Number of new businesses registered using single window or SME centers implemented by the project (cumulative)Value0.000.002500.00
    DateAugust 3, 2020October 2, 2023October 31, 2025
    Comment
  • Percentage of reported grievances actually addressed within a specified period of timeValue0.0083.0095.00
    DateAugust 3, 2020October 2, 2023October 31, 2025
    Comment
  • Number of business owners visiting SME Solution Centers per month who are womenValue0.000.0060.00
    DateAugust 5, 2019October 2, 2023October 31, 2025
    Comment
  • Percentage of beneficiaries reporting satisfaction with project activitiesValue0.00100.0080.00
    DateAugust 3, 2020October 2, 2023October 31, 2025
    Comment
  • Number of new business that are women-owned or managed that registered using single window or SME centers implemented by the projectValue0.000.00700.00
    DateJune 30, 2020October 2, 2023October 31, 2025
    Comment
  • Number of destinations upgraded, cumulativeValue0.000.003.00
    DateJune 28, 2019October 2, 2023October 31, 2025
    Comment
  • Reduction in Days to Obtain Construction PermitValue182.00182.00142.00
    DateAugust 5, 2019October 2, 2023October 31, 2025
    Comment
  • Number of new jobs created as a direct result of activities undertaken in component 2 of the project (cumulative).Value0.00479.00450.00
    DateJune 30, 2020October 2, 2023October 31, 2025
    Comment
  • Number of new jobs for women created as a direct result of activities undertaken in component 2 of the project (cumulative).Value0.00179.00135.00
    DateJune 30, 2020October 2, 2023October 31, 2025
    Comment
  • Number of new loans secured by movables (as registered by the Collateral Registry, cumulative)Value412.001836.002000.00
    DateAugust 3, 2020October 2, 2023October 31, 2025
    Comment
  • Number of international visitors to the country, per yearValue57000.0063402.0062590.00
    DateDecember 31, 2019October 2, 2023October 31, 2025
    Comment
  • Number of new loans secured by movables for women owned or managed firms, cumulativeValue45.00625.00500.00
    DateAugust 5, 2019October 2, 2023October 31, 2025
    Comment
  • Number of entrepreneurs that achieve first sales, (cumulative)Value0.0011.0040.00
    DateAugust 5, 2019October 2, 2023October 31, 2025
    Comment
  • Number of reforms implemented as a result of training and/or policy reviews undertaken (cumulative)Value0.004.007.00
    DateAugust 5, 2019October 2, 2023October 31, 2025
    Comment
  • Number of entrepreneurs who are women supported by the project that achieve first salesValue0.006.0015.00
    DateJune 30, 2020October 2, 2023October 31, 2025
    Comment
  • Number of new entrepreneurs who participated in hackathons, trainings, pitch nights and other activities organized by entrepreneurship institutions supported by the projectValue0.002839.00250.00
    DateAugust 3, 2020October 2, 2023October 31, 2025
    Comment
  • Number of new women entrepreneurs who participated in hackathons, trainings, pitch nights and other activities organized by entrepreneurship institutions supported by the projectValue0.001507.00125.00
    DateAugust 3, 2020October 2, 2023October 30, 2025
    Comment
  • Percentage of SMEs supported by the project that increased their number of buyersValue0.0081.6030.00
    DateAugust 3, 2020October 2, 2023October 31, 2025
    Comment
  • Percentage of SMEs supported by the project that increased their number of buyers which are women-owned or managed firmsValue0.0087.5015.00
    DateJune 30, 2020October 2, 2023October 31, 2025
    Comment
  • Number of companies that the project invested inValue0.000.0010.00
    DateAugust 3, 2020October 2, 2023October 31, 2025
    Comment