Key Outcomes from President Julius Maada Bio’s Visit to China for FOCAC 2024
During President Julius Maada Bio’s official visit to China for the 2024 Forum on China-Africa Cooperation (FOCAC), several significant agreements and announcements were made, strengthening the ties between Sierra Leone and China. Below are the major takeaways from the visit:
- Increased Financial Commitment: Chinese President Xi Jinping announced a substantial increase in financial support for African countries, pledging USD $50 billion over the next three years. This commitment surpasses the previous pledge of USD $30 billion made at the 2021 FOCAC in Dakar, Senegal.
- SMART Sierra Leone Project: The Government of Sierra Leone (GoSL) secured a USD $50 million agreement with China to advance the SMART Sierra Leone Project, aiming to enhance the country’s technological infrastructure.
- Digital Village Initiative: An agreement was signed for the Digital Village Project, which will integrate agriculture and technology in Tormabum, marking a significant step towards modernizing Sierra Leone’s agricultural sector.
- Mining Sector Expansion: Mineral Wealth Fund SL Limited entered into a landmark framework agreement with Chinese investors to expand Sierra Leone’s mining sector, focusing on significant investments in Tonkolili’s iron ore deposits and associated critical infrastructure.
- Fish Export Certification: After a 14-year wait, Sierra Leone has been awarded an International Fish Export Certificate by the Chinese government, opening new markets for the country’s fisheries sector.
- Increased Development Assistance: The Chinese government has committed to increasing its development assistance to Sierra Leone this year, with an additional 200 million Chinese yuan allocated to support various developmental projects.
These outcomes underscore the deepening partnership between Sierra Leone and China, with significant implications for the country’s economic growth and development.