FRIENDS Consult Ltd (FCL) Managing a World Bank Funded Line of Credit in Sierra Leone
We share this brief article because 1) the subject reflects good development thinking and 2) it is rare that an African consulting firm gets contracted to manage a World Bank funded initiative of this kind. In January 2026, FCL (in collaboration with United Consultants Ltd of Sierra Leone) won an international competitive bid to manage a USD 12 million line of credit (LoC) for financial inclusion in Sierra Leone. The LoC is part the Second Sierra Leone Financial Inclusion Project (SSFIP). FCL was contracted and work started in March 2026. Working with the Bank Sierra Leone (BSL), FCL has completed all inception activities, done a rapid diagnostic of the country’s financial sector and developed tools for use in appraising & onboarding banks/MFIs, allocating LoC funds to them and managing the portfolio of funding to participating financial institutions. Below, we present compressed briefs:
- What is the assignment? Line of Credit facility management.
- What is the core rationale for the initiative? a) Expanding access to finance for Micro, Medium and Small Enterprises (MSMEs) to improve financial access to the population b) Strengthening the financial sector through funding for responsible, sustainable and inclusive lending, and training/ capacity building of participating financial institutions c) Supporting inclusive economic growth by partly targeting underserved groups including women, youth and rural entrepreneurs. d) Improvements in the use of environmental and social safeguarding principles in extension and use of business credit/financing.
- Who are the parties to the project (SSFIP)? Government of Sierra Leone–owner; World Bank–funder; Bank of Sierra Leone & its Project Implementation Unit–Project oversight/management; FCL/UCL–Line of Credit management
- What is the Duration of the Assignment? FCL is implementing the Line of Credit Facility for a period of 24 months (March 2026 – March 2028), after which FCL will handover to a Sierra Leonian apex organization to continue managing the facility.
- How does the initiative align with international development agenda? The Line of Credit Facility reflects global sound practices: sustainable access to finance, strong institutions, sound governance and robust lending systems. It also advances the UN Sustainable Development Goals including SDG 1 (No Poverty), SDG 5 (Gender Equality), SDG 8 (Decent Work and Economic Growth), and SDG 10 (Reduced Inequalities).
- Our take: FCL is dedicated to making this LoC a great success, to the delight of the funder, the owner and implementer, and to the betterment of the women, men and children of Sierra Leone.
Evelyn Marion Akumu
Senior Projects Manager, FCL