IMF $105.5M Support to Livestock Project Aims to Strengthen Sierra Leone’s Agriculture

As part of its continued efforts to advance the Feed Salone Agenda, the Government of Sierra Leone has successfully mobilized over $100 million to support livestock development in the country. This significant milestone was announced during the signing ceremony of the financing agreement for the Livestock and Livelihoods Development Project (LLDP), which took place on Wednesday, November 6th, 2024, at the Ministry of Finance Conference Hall in Freetown.

The agreement was signed between the Government of Sierra Leone, represented by the Ministries of Finance and Agriculture and Food Security, and the International Fund for Agricultural Development (IFAD), marking a crucial step towards improving Sierra Leone’s agricultural and food security landscape.

In his statement, Bernard Hien, Regional Director of IFAD, commended President Julius Maada Bio for his visionary leadership and unwavering commitment to feeding Sierra Leone through the Feed Salone Initiative. He described the signing ceremony as a milestone in advancing the country’s food security, reducing poverty, and building resilience in Sierra Leone’s rural communities.

Hien noted that the Livestock and Livelihoods Development Project would play a pivotal role in addressing Sierra Leone’s food security challenges by improving local livestock production, which is essential to reducing the nation’s heavy reliance on imported livestock products. He highlighted that Sierra Leone is a net importer of livestock products, with 60% of poultry, 50% of eggs, and 90% of pork being imported. The LLDP aims to reverse this trend by increasing domestic production, thereby reducing imports and enhancing local supply.

Despite the significant potential of the livestock sector, it has historically received limited public investment. According to Hien, the livestock sector accounts for only around 2% of Sierra Leone’s agricultural expenditure, with a mere 0.12% of this share allocated to the livestock subsector. The LLDP seeks to address this underinvestment by providing much-needed support to the sector, including technical assistance, infrastructure development, and capacity-building for farmers.

The project is expected to reach over 62,000 households and directly benefit 373,000 individuals over the next eight years. The project will adopt a gender-transformative and youth-sensitive approach, ensuring that at least 40% of the beneficiaries are women and 30% are youth, including persons with disabilities.

The Deputy Minister of Agriculture and Food Security, Dr. Theresa Tenneh Dick, expressed her sincere gratitude to IFAD for their support in launching the Livestock and Livelihoods Development Project. She described the project as a flagship initiative for the country’s livestock sector, which will contribute to Sierra Leone’s economic growth and enhance the livelihoods of farmers, particularly women and youth in rural areas.

Dr. Dick emphasized that the project will not only improve the nutritional status of communities but also increase income levels for many families, especially those in rural areas. She stressed that the project would make a significant contribution to achieving Sierra Leone’s broader agricultural and economic goals, including food security, poverty reduction, and the creation of sustainable jobs for the growing population.

The Livestock and Livelihoods Development Project is valued at approximately $105.5 million, with funding contributions from various international and national partners. These include:

• IFAD, OFID, and the Islamic Development Bank (IsDB), each contributing $30 million.
• Heifer International, which has pledged $0.6 million.
• The Government of Sierra Leone, which will contribute $9.16 million through tax and duty exemptions.

The Minister of Finance, Sheku Fanta Madi Bangura, thanked all development partners for their unwavering support, particularly IFAD, OFID, and the IsDB. He noted that the project’s pledges were made during the Vienna roundtable discussions and emphasized the importance of this funding in supporting Sierra Leone’s economic development.

Minister Bangura explained that the project will help reduce the importation of eggs, meat, and chickens, which have been significant contributors to the country’s trade deficit. He confirmed that the project will be implemented across eight districts in Sierra Leone, focusing on improving livelihoods by supporting livestock production and enterprise development, as well as institutional strengthening in the sector.

He further stated that the Ministry of Agriculture will lead the project’s implementation, supported by a steering committee comprising the Ministries of Finance, Trade and Industry, and Youth Affairs.

The project will provide beneficiaries with access to a range of technical services, including:

• Agribusiness training to enhance productivity and entrepreneurial skills.
• Veterinary and advisory services to improve animal health and livestock management.
• Improved inputs to boost production, including better breeds and livestock nutrition.

One of the key components of the project is the restocking and flock-building initiative, which will introduce high-quality livestock breeds to enhance production and productivity in Sierra Leone’s livestock sector.

The Livestock and Livelihoods Development Project represents a significant step forward for Sierra Leone’s agricultural and economic future. By addressing the critical challenges facing the livestock sector, the project will not only improve food security and rural livelihoods but also contribute to the country’s overall economic transformation.

Through this partnership with IFAD and other development partners, the Government of Sierra Leone is taking bold steps toward sustainable development, poverty alleviation, and the creation of a resilient and self-sufficient agricultural sector.