53958
    REPUBLIC OF SIERRA LEONE: JOINT COUNTRY ASSISTANCE STRATEGY

                          CHAIRMAN'S CONCLUDING REMARKS

                      Meeting of the Board of Executive Directors of IDA
                                        April 6, 2010


       Executive Directors discussed the Joint Country Assistance Strategy (JAS) prepared by
IDA, IFC and the African Development Bank. Many Directors noted the collaboration with the
African Development Bank in its preparation.

        Directors commended the Authorities for the gains achieved during the post-conflict
transition period. They remarked on the progress in macroeconomic stability, economic
development, and governance, including the strengthening of the Anti-Corruption Commission.
Directors also observed the significant development challenges faced by the country, noting the
fragile peace and stability of the country, the high poverty rate and lagging MDGs, and the
vulnerability of its economy, especially in the wake of the global crisis. In this context, Directors
supported the focus on the priorities of equitable growth and sustaining human development.
Directors encouraged the continued emphasis on macroeconomic stability, good governance,
including for management of its natural resources, and private sector development.

       Directors broadly supported the joint strategy, noting its alignment with the priorities of
the country's Second Poverty Reduction Strategy entitled The Agenda for Change. Directors
noted the importance of taking into account the lessons learned from the previous CAS and the
IEG CAS Completion Report. In particular, they encouraged maintaining flexibility to adjust to
changing circumstances and to ensure a realistic and prioritized program of assistance.

        Directors commented on the importance of expanding the economy and improving the
investment climate. Accordingly, they emphasized the importance of continued support to
enhance the accountability, transparency and governance of institutions. In this connection, a few
Directors encouraged the Bank to support Sierra Leone's efforts to become EITI compliant.
Directors also stressed the need to strengthen the financial sector and infrastructure development,
including the power sector and development of renewable energy. Some Directors emphasized
that IFC should play a more pro-active role, including to promote public-private partnerships for
infrastructure development and to support agriculture development. Directors highlighted the
importance of improving agricultural productivity, addressing youth unemployment and
education, and delivering on the gender agenda beyond the planned gender assessment. A few
Directors also encouraged continued support to the health sector and supporting regional
integration initiatives.

        Finally, Directors encouraged continued efforts to improve donor coordination, not only
with the African Development Bank but also with other development partners. Noting the extent
of the country's development needs, and its potential to set an example for other countries in the
region, a number of Directors urged full support of all development partners, including from IDA.