Sierra Leone - Inclusive Economic Management Program – Phase I

The IEMP was designed as a three year programmatic budget support operation with the first year reform actions undertaken prior to Board approval. The programmatic operational design framework seeks to promote predictability in donor financing and prioritise reform measures by Government Agencies. The prior actions or conditions precedent to first disbursement were supported by the Government’s efforts in implementing budget closer to plan in 2014, enhanced donor predictability by financing the budget at the earlier part of the year and compelled government to take actions that ensured transparency in the extractive sector. The three year framework, aimed to provide a Bank-GoSL agreed medium term path of reforms, while providing the needed flexibility in a fragile policy environment by allowing for annual benchmarks to be revised regularly.