Economic Rehabilitation and Recovery Loan-II

The ADF to-date has approved four balance of payments operations in support of Sierra Leone’s structural adjustment reform process. The total amounts approved in support of structural reforms constitute 25.7% of the net cumulative amounts approved to-date. The main objective of the first Structural Adjustment Loan (SAL) of UA 18.421 million, approved in October 1992, was to create macroeconomic stability, accelerate economic growth and combat poverty. The serious escalation in insecurity in the 1990s, however, made it difficult for the Government to effectively implement the reform program.