U.S. Embassy Launches $3 Million Initiative to Boost Agricultural Investment in Sierra Leone
The U.S. Government, in collaboration with Pangea Global Ventures, has introduced a $3 million initiative to enhance private sector investment in Sierra Leone’s agricultural industry. This project, known as "Catalyzing Investment for Small Businesses" (CISB), aligns with Sierra Leone’s Feed Salone strategy, which aims to drive growth and development in the agriculture sector.
The CISB project will connect small and medium-sized agricultural enterprises in Sierra Leone with international impact investors, providing these businesses with access to affordable financing. This financial support is crucial for the expansion of these enterprises, fostering job creation, and increasing their profitability.
Over the next two years, USAID and Pangea Global Ventures will collaborate with selected agricultural firms to ensure they are adequately prepared for international investment opportunities. This initiative is expected to serve as a model for showcasing Sierra Leone's investment potential.
By bringing international impact investors into the local market, USAID and Pangea Global Ventures aim to lower the cost of capital for local agricultural firms and establish essential venture capital sources. This approach is designed to demonstrate the country’s favorable investment climate and position its agricultural sector as a lucrative opportunity for global investors.
U.S. Ambassador Bryan David Hunt highlighted the significance of creating a conducive investment environment in Sierra Leone. He stated, “The U.S. Government will continue to emphasize the need for a more attractive investment climate that will transition the economy toward the vision outlined in the ‘Feed Salone’ strategy. The people of the United States are committed to standing with the people of Sierra Leone, and we will work with you as closely as possible in pursuit of prosperity.”
The CISB initiative is part of a broader commitment by the U.S. government to support democracy, health, and prosperity in Sierra Leone. By fostering a robust agricultural sector and improving the investment climate, this initiative aims to contribute to the long-term economic development of Sierra Leone, aligning with the aspirations of its people.
Through this strategic partnership, the U.S. Government and Pangea Global Ventures are set to create a sustainable impact, enhancing the agricultural sector's capacity to attract international investment and drive economic growth.
The CISB project represents a significant step towards
achieving the goals outlined in Sierra Leone’s Feed Salone strategy,
reinforcing the U.S. commitment to supporting the country's journey towards
prosperity.