The United States has set strict criteria for the release of a $480 million Millennium Challenge Compact (MCC) grant to Sierra Leone, aimed at promoting economic growth and reducing poverty.

The agreement, finalized in September 2024, outlines specific conditions for financial oversight, project benchmarks, and environmental and social safeguards, ensuring transparency and accountability.

Sierra Leone must meet rigorous requirements, including fiscal accountability, governance compliance, and environmental safeguards, to access the funds.

Detailed financial reports, anti-money laundering protocols, and dedicated accounts in U.S. and local currencies are mandatory. The U.S. will conduct independent audits to monitor compliance.

Key conditions include establishing a project management team, creating a financial accountability framework, and submitting Environmental and Social Impact Assessments (ESIA) for construction projects. Specific project requirements, such as the Transmission Backbone and Power Sector Reform projects, have additional conditions, like meeting technical standards and clearing electricity bill arrears.

The MCC will regularly audit and review progress, with the authority to suspend or modify funding if conditions are not met.

The U.S. aims to ensure the funds are used effectively, making Sierra Leone responsible for meeting high standards in governance, sustainability, and fiscal discipline for the grant’s success.