On March 21, 2024, the Government of Sierra Leone launched its National Disaster Risk Financing Strategy and Implementation Plan for 2024-2029 at the Atlantic Hotel in Freetown, in collaboration with the World Bank Group’s Disaster Risk Financing and Insurance Program (DRFIP).  The event was led by Minister of Finance Sheku Ahmed Fantamadi Bangura, drawing over 60 delegates from various ministries, international organizations and development partners. The diverse attendance at the launch mirrored the multi-stakeholder approach adopted by the Core Writing Group that developed the strategy.

Situated on the West coast of Africa, Sierra Leone is exposed to floods, landslides and droughts, as well as health crises such as the Ebola outbreak. There have been over 300 disasters in the past 25 years, profoundly impacting local communities, particularly the agriculture sector which employs two-thirds of the population and exacerbating food insecurity in the region. The frequent and severe nature of events like the 2017 mudslides, which claimed over 1,141 lives, underscores the urgent need for an integrated disaster risk financing strategy. To this end, the strategy sets out to proactively manage disaster risks to ensure fiscal stability and support the recovery of both physical and human capital, which are crucial for Sierra Leone’s long-term economic development.

In his address, the Minister of Finance highlighted the collaborative efforts which led the Ministry of Finance to integrate disaster risk financing into the nation's fiscal management framework. Given the increased frequency and severity of events caused by climate change, the chairman of the ceremony, Matthew Dingie, welcomed the development of ex ante and ex post financial instruments to halt the diversion of resources from longer-term development investments that have caused potentially long-lasting, multi-generational impacts. Abu Karbo, senior social protection specialist, represented the World Bank Group at the event.  During his address, he highlighted that the Strategy would enhance the management of financial risks related to disasters by coordinating and consolidating ongoing and planned financial protection efforts across different sectors. The event not only highlighted the government’s commitment to strengthening its disaster response mechanisms but also set the stage for the more challenging implementation phase of the strategy. During his address, Minister Bangura emphasized the importance of aligning the strategy with prior actions for the upcoming Development Policy Financing (DPFs) and called for sustained support from international partners to ensure the strategy’s effective operationalization.

Prior to the launch, an interactive DRF workshop for eighteen participants from the Core Writing Group (CWG) and Ministry of Finance was held, focusing on financial instruments including a deep dive into agricultural insurance. The workshop also covered essential soft skills like stakeholder management and negotiation, vital for engaging with donors and coordinating across various sectors. The CWG expressed enthusiasm for the for an upcoming study tour to Malawi and Mozambique, aimed at enriching Sierra Leone’s approach by learning from other countries' experiences in implementing disaster risk financing instruments.

Key takeaways from the mission:

1. Shifting gear to the implementation phase: With the strategy now in place, the focus shifts to the more challenging implementation phase, requiring active engagement from across government sectors.
2. International Learning Opportunities: Building on the successful knowledge exchange series, the upcoming study tour reflect the GoSL’s proactive approach to learning from global best practices in DRF
3. Sustained International Support: The call for a programmatic approach from development partners highlights the necessity for sustained international support to operationalize the ambitious goals set by the implementation plan.