Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1698082105991.pdf (Sierra Leone)
i I ,r a AGR la!, 1,0il lGnEilHI BHWttt ill[ tGoWnS BI[t ton HIISTtIttI Iilr BHtEoPitHlI ttBIDI ffiD ilI nIPUBIG 0I $Enn[ 1t0m tm fi r Pmru, H[AilGtX8 0r Itlt G0HSTRUGII0il 0] ilt UilIIHS]IY 0t SGIITGI IXD TEDIIT|IIOEY [T I(llIDU IllITT TllHll IIEINIGI I[ IHE NEPUBI,IC Of $ITNMEIITE 10il t" 1filtP/1[/BEG/EBtB I08t2020 ORIGINAL: ENGLISH CONFIDENTIAL -tt \ s THIS LOAN AGREEMENT (hereinafter referred to as the "Agreement") is made this 2O2O BETWEEN ECOWAS BANK FOR INVESTMENT AND DEVELOPMENT, an lnternational Financial lnstitution duly authorized to carry out the business of banking within and outside the West Africa sub-region and having its Registered Ofiice at 128, Boulevard du 13 Janvier, 8.P.2704, Lome, Togolese Republic, and represented by its President, Dr George Agyekum DONKOR (hereinafter referred to as.,EilD" or'.Bank,.
), which expression shall where the context so admits or requires include his successors in office and accredited officers of the one part; AND GOVERNMENT OF SIERRA LEONE, represented by the Ministry of Finance' Republic of siena Leone (hereinafter refened to as "GosL" or "Borrowe/') of the second part.

Together refened to as "Parties".


WHEREAS the objeclive of the Project is in line with the Bank's objectives which are to support development Projects that will help in poverty reduction through provision and promotion of social amenit'es such as Health and Educational infrastructure, which will iead to the improvement in the standard of living of the people in the West African Region.
The Project is more particularly described in Annex t hereto; WHEREAS there is a linkage of the project with the Bank's strategic plan for 2016-2020 which is mobilising and sustaining societal and institutional support in the West African Region; WHEREAS the proiect will contribute to Sierra Leone's medium-term National Development Plan 2019 - 2023 through the development of educational infrastructure that significantly contributes to its poverty eradication and economic growth through modern leaming and environmental rehabilitation strategies; WHEREAS the project will be a Quality education for the Scielce and Technology fielb and enhance teaching methodology (through qualified lecturers) for Science and Technology related courses.
WHEREAS the total cost of the Project, (net of customs duties and taxes) is estimated at Thirty-four Million United States Dollars (USD 34,000,000); WHEREAS the Borrower has requested the Bank to finance part cost of the Project which is in the sum of Thir$-two million United States Dollars (USD 32 million) net of custom duties and taxes; WHEREAS the Loan is to be financed with the resources of the Indian line of credit; v z N WHEREAS the Borrower undertakes to bear any and all cost exceeding the estimated cost of the Project; WHEREAS the Project is considered to be technically well conceived, economically viable and constitutes a suitable basis for the Bank's intervention; WHEREAS the Bank has agreed on the basis, inter alia, of the foregoing, to grant a Loan to the Borrower upon terms and conditions hereinafter set forth.
NOW THEREFORE THE PARTIES HERETO AGREE AS FOLLOWS: ARTICLE 1: GENERAL CONDITIONS - DEFINITIONS 1.01 .

General conditions 1 .

The parties to this Agreement accept the provisions of the Statement of General Policy and Procedures for Loans, lnvestments and Guarantees, and of the General Conditions Applicable to Loan, Guarantee and Counter-Guarantee Agreements of the Bank, (hereinafter called the "General Conditions") with the same force and effect as if they were fully set forth herein.

2.
2.

The Parties to this Agreement ac@pt the provisions of the Appraisal Report of the Project and its Annexes, as well as the minutes of negotiations of the Loan Agreement not conflicting with the provisions of this Loan Agreement.

3.

The Bonower acknowledges the receipt and understanding of EBID's General Policy and General Conditions Applicable to Loan, Guarantees and Counter-Guarantee Agreements 1.02.
Definitions Unless the context otherwise provides, whenever used in this Loan Agreement, the various terms defined in the General Conditions shall have the meaning therein indicated.

ARTICLE 2 THE LOAN AND ITS PURPOSE 2.01.

Amount The Bank shall grant the Borrower a loan from the resources of the lndian line of credit in the amount not exceeding Thirty-two million United States Dollars (USD 32, 000 000).

?

3 N 2.02.
?

3 N 2.02.

Purpose The loan shall be used to partially finance the construction of a Univeristy of Science and Technology at Koidu City in the Republic of Sierra Leone.

ARTICLE3: REPAYMENT OF PRINCIPAL.

PAYMENT OF INTEREST.

LOAN DOqU]\4ENT PROCESSING FEE, INSTALMENTS 3.01.

Reoa me nt of Princioal The Borrower shall repay the loan in twenty-five (25) years including a grace period of five (5) years starting from the date of the first disbursement in fofi (40) equal and semi- annual instalments.
The first such instalment shall be payable on 15th February or 15h August whichever date comes immediately after the end of the grace period.

3.02.

Pavment of lnterest 1.

The Bonower shall pay interest at the rate of one point seven per cent (1.7%) per annum on the principal amount of thd.

loan disbursed and outstanding from time to time; 2.
The interest which shall be calculated on the actual number of days on the basis of (Three hundred and sixg) 360 days per year, shall be payable despite the grace period.

3.

The interest shall be payable on 15h February and 15th August of each year.

3.03.

Pavment of Lo4n Documents Processinq Fee The Borrower shall pay to the Bank at the date of signing this Agreement a loan document- processing fee of one per cent (1%) flat of the maximum amount of the loan.

3.04.
3.04.

Pavm ent of Com mitment Charoe Tte Bonower shall pay to the Bank a commitment charge of zero point five percent (0.50%) per annum on the undisbursed amount of the loan which shall begin to accrue (one hundred and twenty) 120 days afier the signing of this Agreement.

3.05.
3.05.

Pavme nt of Spec ial Commitment Charqe The Borrower shall pay to the Bank a special commitment charge of zero point one five percent (0.15%) of the amount of the letter of credit, calculated and payable'quarterly and in full, where the disbursement is made by means of a letter of credit iisued by the Bank; w -1 N 3.06.

Pavment Dates All payments relating lo this agreement shall be considered duly made when funds constituting such payments are credited into the designated account by the Bank.

3.07.
3.07.

Applicable interests in case of Default in Pavments lnterests and fees in default shall be subject to penalties under the terms and conditions set forth in Article '10.01 of this Agreement.

3.08.

Liability of the Borrower The liability of the Borrower to repay directly to the Bank all the amounts due under this Agreement is unconditional.

3.09.
3.09.

Apolication of Payments All payments made under this Agreement shall be assigned in order of priority as follows: 1) ln the first place to the payment ofpenalty on the loan document processing fee refened to in Article 10.01.
(a) of this Agreement; 2l ln the second place to the payment of the loan document processing fee referred to in Article 3.03 of this Agreement; 3) ln the third place to the payment of penalties on the commitrnent charge and the special commitment charge referred to in Article 10.01(b) and Article 10.01 (c) respectively of this Agreement; 4l ln the fourth place to the payment of the commitment charge and the special commitment charge refened to in Article 3.04 and Article 3.05 respectively of this Agreement; 5) ln the fifth place to the payment of penalty on interest referred to in Article 10.01 .
(d) of this Agreement; 6) ln the sixth place to the payment of interest referred to in Article 3.02 of this Agreement; 7) ln the seventh place to the repayment of principal referred to in Article 3,01 of this Agreement.

v 5 N ARTICLE 4: DISBURSEMENTS AND APPLICATION OF AMOUNTS DISBURSED 4.01.
Disbursements For the purposes set forth in this Agreement, the Bank may, subject to the provisions of this Agreement and the General Conditions, and with the consent of the Borrower effect direct disbursements to suppliers or contractors to cover expenditures made in settlement of the reasonable cost of goods and services required for the implernentation of the project which are financed under this Agreement.

4.02.
4.02.

Deadline for First Disbursement The deadline for first disbursement shall be one hundred and twenty (120) days from the date of signing of this Loan Agreement unless this date is extended by the Bank in view of the circumstances.

4.03.

Deadline for Final D isbursement The deadline for final disbursement shall be six (6) months after the estimated date of completion of the Project unless this date is extended by lhe Bank in view of the circumstances.

4.04.
4.04.

Aoplicati on of Amounts Disbursed Amounts disbursed under the loan shall be applied by the Borrower solely for the purposes for which they were granted.

ARTICLE 5: EXECUTION OF THE PROJEC T 5.01.
Performance of Obliqations The Borrower commits itself to the objectives of the project as set forth in Annex 1 of this Agreement and to this end, without any limitation or restriction upon any of its other obligations under this Agreement, shall perform in accordance with the provisions of this Agreement all the obligations of the Borrower therein set forth, shall take or cause to be taken all action including the provision of funds, facilities, services and other resources, necessary or appropriate to enable the Borrower to perform such obligations and shall not .
or permit to be taken any action which shall prevent or lnterfere with such take performance.

v 6 & 5.02.
Plans and Specificalions The Borrower undertakes to ensure: 1) Execution of the Project with due diligence and efficienry and in accordance with sound financial, administrative and technical practices, under the supervision of qualified and experienced personnel and in accordance with the investment schedule, budgets, plans and specifications submitted to and approved by the Bank; 2) Submission to the Bank, for its approval, in such detail as the Bank may reasonably request any modifications to the budgets, plans and specifications of the Project approved by the Bank as well as any changes in any contract for works, technical services or procurement of goods relating to the execution of the Project.
ARTICLE 6: CONDITIONS PRECEDENT TOF IRST DISBURSEMENT The Bank shall be under no obligation to make the first disbursement as long as the relevant provisions of the General Conditions concerning the condit'lons precedent to first disbursement are not satisfied.
ln particular, the Borrower undertakes prior to the first disbursement of the loan to: 1) Submit to the Bank a Legal Opinion from the Attorney General's Office stating that the Agreement is valid, enforceable and constitutes a binding commitrnent on the Borrower; 2) Submit to the Bank proof of Ratification of the Agreement by its competent authorities.
3) Make full payment of the Loan Document Processing Fee referred to under Article 3.03 of this Agreement, and 4) Submit to the Bank a copy of the Environmental License issued by the Environment Protection Agency (EPA) of the Republic of sierra Leonq indicating that the Project has complied with the Environmental Laws and Regulations of the country' ARTICLE 7: OTHER CONDITIONS 7.01 The Borrower undertakes that: 1) .Make annual payment of the Governmenfs counterpart funding for the financing of the project into the Fro.iect accounl by 31sl April of each year at the latest and providing evidence thereof to the Bank; )L, 7 \ 2) Take the necessary budgetary measures to repay ihe loan in accordance with the repayment schedule; 3) Make available to the bank for approval the shoruisting and tender documents before their launch, the report on the tender procedures before the award of contracts and the signing of conlracts and a copy each of all contracts concluded in connection with the use of the Loan; 4) Ensure that the Project is canied out with due regard to appropriate Health, Safe$, Social and Environmental standards as stipulated in the study; 5) Submit to the Bank periodic (quarterly, and annually) progress report on the implementation status of the proiect; 6) Submit to the Bank a copy of the epd-of-pro.iect report within three (3) months before the date of final disbursement; i 7) Grant the Bank s representatives uninterrupted access to all documents concerning the Project and cooperate with them to ensure that the assignment entrusted to them are carried out efficiently and in a conducive manner.
7.02.

Procurement of Goods and Services 1.

The Bonower accepts that at least seventy-five per cent (75%) of the total value of the goods and services to be procured with the loan shall be of lndian origin.

2.

The Borrower shall ensure that contracts for the procurement of goods and services for the Project shall be affected at reasonable cost which shall generally be the lowest market price taking into consideration quality, efficiency and all other releyant factors.

3.
3.

Except as the Bank shall otherwise agree, the Borrower shall ensure that the goods and services to be financed with the proceeds of the loan ar6 procured on the basis of competitive tender procedures prescribed in the procurement laws of the Borrower, a copy of which shall be promptly submitted to and approved by the Bank in accordance with such other procedures as shall be agreed upon between the Bank and the Borrower.
ARTICLEB: RECORDS The Borrower shall ensure the maintenance of adequate records to identify the goods and services financed out of the loan, to disclose the use of the proceeds of the loan in connection with the Project, to record the progress of the project and the amount of expenses incurred, p 8 K ARTICLE 9: PARTICULAR COVENANTS 9.01.
Permitted and Restricted Actions The Borrower shall take or cause to be taken, all the necessary actions in order to ensure proper and timely execution of the Project and undertake not to take or cause to be taken any action or issue any directives regarding the procurement of goods and services financed from the loan that would hamper the efficient utilisation of the Loan.

9.02.

Relations betwee the Borrower and the Bank durin o the Loan Period '1.
The Borrower and the Bank shall co-operate fully to ensure the attainment of the objectives of the Loan.

To this end, each party shall provide the other with the relevant information upon request regarding the general status of the loan.

On the part of the Borrower, such information shall include information relating to financial and economic conditions in its territory, namely its balance of payment position.

2.
2.

The Borrower and the Bank shall periodicalty and upon the request of either party, exchange views through their representatives with regard to matters relating to the objective of the loan, the maintenance of equipment thereof and the performance by the Borrower of its obligations under this Agreement.

3.
3.

The Borrower shall promptly inform the Bank of any condition which interferes with or threatens to interfere with the attainment of the objective of the loan, the maintenance of the equipment thereof and the performance by the Borrower of its obligations under this Agreement.

9.03.
9.03.

Proi ect Supervision and Evaluation The Borrower shall provide the necessary support to the accredited representatives of the Bank who shall visit the territory of the Borrower lor purposes related to the Loan including the supeMsion of the Project execution and post-evaluation o{ the Project- ARTICLE 10: MISCE LLANEOUS PROVISIONS '10.1.
Penalties A licabl e in case of Defau It in Re Dav men OD t ln the event of default by the Borrower regarding the repayment of the Loan, interest and fees or any other payment required under this Agreement at the end of a period exceeding thirty (30) days, the Bank shall, after giving notice to the Borrower: v I .t\ a) Apply a penalty at the rate of fifly per cent (50%) of the loan document-processing ' fdd.
tnii penrity shatt be added to the loan document processing fee fixed under Article 3.O3 of this Agreement; b) Apply a penalty at the rate of fifty per cent (50%) of the commitrnent charge.
This ' pliiity ltr"ff UL added to the commitment charge fixed under Article 3.04 of this Agreement, c) Apply a penalty at the rate of fifty percent (50%) of the special comrnitment charge where disbursement is made by means of a letter of credit issued by the Bank; d) Appty a penalty at the rate of fifty percent (50%) of the base rate of the loan' This ' pii.rjfty shatl be added to the interest fixed under Article 3.02 of this Agreement; e) Suspend any new decision to grant loans to the Borrower; f) Suspend any further disbursements of the loan in respect of which the arrears are due and in the event that the loan in question is fully disbursed, suspend disbursements from any other loans granted to the Borrower; g) Suspend signing any new agreement with the Borrower; h) Fail to consider any other projects submitted by the Borrower; i) Apply a cross-default clause between the loans of the Bank, those of any Special Faciiities and loans granted under co-financing agreements which shall ipso facto result in the suspension of disbursements from all the loans.
10.2.

Other measures a) Without prejudice to the other measures specified under Chapter 7 of the General Conditions, the Bank reserves the right to.apply, after informing the Borrower of any or several of the measures specified in Article 10-01 of this Agreement in the event of any of the following situations; b) Where the situation of the Borrower as presented by the Borrower before the first disbursement has deteriorated sharply; .
c) Where any representation made by the Borrower during the appraisal of the Project or any information on the basis of which the Bank granted the loan is found to be incorrect or misleading in any material respect.
w IO K-F l.D BT 10.3. lndemnltv The Borrower shall indemniflT and keep the Bank indemnified from anC against all reasonable losses, liabilities, damages, costs, charges and expenses which it may certify to have been incurred as a consequence of occunence of any event of default or any other breach by the Borrower of any of its obligations under this Agreement (including any loss and any interest or cost incuned by the Bank in funding any unpaid sum).

10.4.
10.4.

Tax Obliqations The Borrower shall fulfil all the necessary tax obligations, particularly taxes, levies, stamp duties and registration fees applicable as a result of the signing and execution of this Loan Agreement and any other deeds relating thereto.

The Borrower shall pay all the amounts due to the Bank by virtue of this Loan Agreement in the form of interest, charges or repayment of principal, without deduction of any tax or levy whatsoever.

10.5.
10.5.

Settlement of Disputes Any conflicts, controversies or claims arising from or in connection with the provisions of this Agreement shall be settled amicably by the parties.

ln the event of a failure to reach an amicable settlement, each party may submit the case to the ECOWAS Court of Justice, Abuja, Federal Republic of Nigeria.

10.6.
10.6.

Applicable Law and Jurisdiction This Agreement shall be governed and construed by the Revised Treaty of the Economic Community of West African States dated 24h July, 1993 including its subsequent amendments and Protocols annexed thereto.

10.7.
10.7.

Relinouishment of Pri ileqes and lmmunities 1 For the benefit of the Bank or any other entity which shall be its legal successor, the Borrower accepts to relinquish any privilege or immunity from jurisdiction or from execution of writ for itself and its assets with the exception of assets of diplomatic missions, military and security installations and government offices.
2. ln the event that, despite the provisions of paragraph (1) above, the Borrower is legitimately entitled to plead any privilege or immunity from jurisdiction and/or .execution of writ whatsoever for all or part of its assets before any arbitral or jurisdictional body, the lafter shall relinquish expressly and irrevocably such a privilege or immunity in the same manner as it shall accept expressly and undertake irrevocably not to plead same against the Bank in any proceedings whatsoever relating to this Agreement.
:b l1 & 3.

The relinquishment by the Bonower of its privilegeb and immunities shall be specific to the curient transaciion to which this Agreement relates and be valid from the point of view of the laws governing the Borrower.

1O.8.

Authorised Re pre Any person(s) designated in writing shall be the authorised representative(s) of the Boirower for the purpose of the relevant provision of the General Conditions' ves '10.9.
Date of Entrv into Force of the Loan Aqreement The Agreement shall, under all circumstances, be deemed as signed and entered into force on the date mentioned on the second page of this Agreement.

10.10.
10.10.

Addresses The following addresses shall apply: EBtO: ECOWAS Bank for lnvestment and Development 128 Boulevard du 13 Janvier BP.2704 Lom&Togolese RePublic (228) 2221 86 84 (228\22216864 bidc@bidc-ebid.orq GOVERNMENT OF SIERRA LEONE: Ministry of Finance Treasury Building George Street Freetown Republic of Sierra Leone +232 (76) 61064'1 fsecretarv@mof .

qov.
qov.

s I www.mof.gov.sl Postal Address: Fax: Telephone: E-mail: Postal Address: Telephone Email: w 12 Sr lN WITNESS WHEREOF the Bank and the Borrowet, acting through their respective representatives, have on the date indicated on the second page signed this Agreement in two (2) original copies in English both being equally authentic.
FO FOR THE BANK JACOB JUSU SAFFA MINISTER OF FINANCE \ I Dr. George Agyekum DONKOR PRESIDENT t3 ANNEX 1 S OFTHE PRO.IECT I. PROJECTDESCRIPTION The main aspect ofthe project is the construction ofa university ofscience and technology across an area of417.64 acres close to the city of Koidu Town, Kono District.

It is in the eastem part of Sierra Leone.

GoSL is proposing for the university to be abte to take in 200 students yearly in this field.
Other aspects will include the provision of equipment for the school, training of lecturers, and management of the university.

o Project Goal and Objective The overall goal of the proposed project is to contribute to Sierra Leone's economic growth plan through the development of educational infrastructure that significantly contributes to its povedy eradication, economic growth through modern leaming and environmental rehabilitation sfategies.

Other sub-objectives are: .


Quality education Institution for the science and technology field; r Enhanced teaching methodology (Qualified Lecturers) for Science and Technology related courses; and o Qualified graduates that can contribute to the country's development through mining, ICT' and other related fields, and contribute the field across the region.
o Project Components The project has six distinct components, which are as follows: ComDonenl l: Construclion and equipping of critical slructures (US $ 18.4 million) The component will have two sub-components focusing on the co;struction of the university of science and technology with fitting equipment lacilities.
Comoo nenl 2: Consultancy Services (US $ 2.65 million) This component includes the following two (2) sub-components: (i) The "studies" sub-component and (ii) the "control and supervision ofworks" subcomponent.

Component 3: Buildin g human capital and Institutional capdcit!

(US $ 7.50 million) The component will have two sub-components which will focus on building the academic capacity ofths lecturers and proposing an operationalization module for the university.
u, 14 N\> Component 4: Envlronmznlal and Social Measures (US $ 0.5 nillion) This component concerns the implementation of the measures proposed for the management ofthe various risks and potential impacts identified.

Comoonent 5: Inslitulional Developmerrl and Ptoject Managemenl (US $ 0.95 million) A Project Implementation Unit (SPIU) will be established by the Project Steering Committee for the implementation of the project.
They will deal with the management, monitoring, supervision, and coordination of Project activities at the technical, administrativg financial, and accounting level.

Component 6: Technical andfinancial audil (US $ 0.1 million) A technical and financial audit will be carried out by an independent consultant (third-party), in two stages (mid-review and the end ofthe project).
o Project Cost and Financing Plan The project, with a tota[ outlay of US$ 34 million, will be jointly financed by the ECOWAS Bank for lnvestment and Development (EBID) and the Govemment of Sierra Leone (GoSL).

The contribution from EBID is US$ 32 million through the lndian Line ofCredit (LOC) resources, and the contribution from the Govemment is US$ 2 million.

Table 3 below provides the summary costs and financing ofthe proposed operation.
Table I : Project Cost and Financing COMPONENT l: Construction and equipping of critical structures | 2: Consultancy Scrvices 3: Building human capital and Institutional capacity 4: Environmental Measures 5: Project Management 6: Technical and Financial Audit Total Basic Cost Technical and Financial Contingencies (107o) Total cosTs (us $ million) 19.40 ] FINAIICING OS $ million) EBID(LOC) GOSL 19.00 0.40 2.90 8.00 0.50 0.40 0.05 30.1 5 3.015 33.165 2.50 8.00 29.50 2.90 3 1.90 0.40 0.50 0.40 0.050 1.75 0.175 1.925 \v t5 $ N.B: Due to the legal requirement that the country must contribute 5% of the total project cost.
o ProjectedDisbursement The projected disbursement for EBID is provided in table 3 below: Fiscal Year Annual (US$ million) Cumulative million) (us$ 2021 r.00 1.00 Table 2: Project Disbursement Schedule 2022 6.25 7.25 2023 2l .35 28.60 2024 3.40 32.00 2, PROJECTIMPLEMENTATION 2.1 lmplementation Arratrgement .

Sleering Conunitlee A steering committee will be constituted for the project that will be reporting directly to the Govemment.
The Steering Committee will have an oversight function that will include: (a) ensuring proper alignment between the project and other infrastructure programs and initiatives; (b) reviewing implementation progress, and (c) providing guidance to PIU on strategic issucs.

The steering committee will meet at least every three months.

.

Project Implementation Unit (Pil) The Project Implementation Unit will be the Office of Presidential lnfrastructure lnitiative (OPll).
The structure pmposed for the PIU will be incorporated into the current structure of the agency.

The PIU team will consist of the Project Coordinator, Procurement officer, Project Accountant, Project Engineer, Education Specialist, Monitoring and Evaluation Officer, and Administrator Officer, and include a counterpart to the consultant's resident engineer who will be stationed in thc field.
c Moniloring and Evaluation O{Iice ofPresidential lnfrastructure lnitiative (OPll) through PIU willhave the main responsibility for monitoring the implementation of the project with the support of the consultancy firm to be recruited.

EBID will also undertake a bi-annually supervision mission and focus on the issues provided in the report from the country.
2.2 Proposed Implementation Plan Tabl'e 2 below provides a summary of the proposed implementation plan $ l6 $- Table 2: lmplementation plan for the project cy or Activ es ti tio Pri I Constru c oC n SU ta n 2 Bu Idtn Envi Proj echT ro mn Ma 4 ) 6 ical ect 3: n fo roJ rit r P cct Im em taen p n o cf pp n na d eq u Serv ces nma ca uh p ental and an nI s t ti tu Measu res ta x dn Social em ent Financial ITa d Aud t ntio s rt cal cu tu res o an ca a cp ty June 2020 - J anuary 2021 J anuary 2022 - November 202j J anuary 2021- December 2023 April2023 -June2024 June 202 2 - December 2023 Novem 2 20 0 May 2023 - June 20'A eptem ber S ber 02 24 2.3 ECONOMIC ANALYSIS OF THE PROJECT The value for money for the Govemment can be rearized through the university ofscience and Technology (UST) approach for executing this project on a turnkey, horistic basis.
To maximize the value for Covemment, UST will focus on the foibwing: o Social -Economic Impact r West African Hub for Mining Engineering and Sciences r Wider Reach o Quality Training Infrastructure o Value add for the existing TVET Centers; and o Industry Focus Training.

3.
3.

SUSTAINABILITY Ensuring the sustainabirity of the proposed univenity ofscience and technorogy is one ofthe most critical challenges faced during the project pr.proiion and needs to be viewed from economic, social, and environmental dimensions.

Acknowledging the comprexiry of this issue, the GoSL has allocated a fixed amount into their yearly budget for thl operating and maintenance ofthe proposed university.

Moreover, GoSL is pranning to cover the operating and maintenance cost of the university.
.r-o ensure that the universitv has adequate teaching capacity, the coB n", il;;;';;il.

.

".

*,, additional lectures- Moreover, the proposed project wiir herp universities generate sustainabre revefiue through tuition fees and income-genl"atirg serric"s to cover its operationar costs and maintenance of the new buildings and equipment.

17 $ 4.
ENVIROI\{MENT AND SOCIAL IMPACT TheProjectisclassifiedasCategoryA,aprojectwithmajorenvironmentalimpacts'inaccordance with the Bank's Environm*t"i *a Social-Policy with regard to the nature of thti works' the foreseeableconsequencesor*t,i"t'aresignificantdirectandindirectnegativeimpaotsonthe biophysical and human environment' Environment lmpact The potential environmental impacts are op":t"d to be short term and localized to one location tp-p.*O Site) and can be managed through the imptementation of mitigation measures' 5.
PROJECT RISKS AND MITIGATION MEASURES The overall risk is assessed to be "Lof' based on the table below CATEGORY Political and Governance Ins t itulio nal caPac i tY and Sustainabili P rojec t Manage ment, C o sl overruns, ond control of deadlines Fore I RISK ASSESSMENT Low Moderate Low Low ,V ( .r.\ ANNEX 2 PARTIAL FINANCING OF THE CONSTRUCTION OF THE U I1GRSITY OF SCIENCE AND TECHNOLOGY AT KOIOU TOWN KONO DISiR;iiN;;; REPUBLIC OF SIERRA LEONE Af, ORIIZAI,ON SCHET,I'LE OISBIJRSET/ENT UNOISBURSEMENT I'\rIERESI RAIE COMTtrIII'ENT C}IARGET PROCESS'{G FEE 32 @O mO,OO USO qoo usD t @o ooqoo uso 25 Y6E 5 Y!.E 20 trora Frta, o.aor pq y..r 1/a6 o, ,lo r.Dt-..n{.B !60 I5Fcbo.,E sd in.t 1,'6r, 1 _ o,oo 27a 511_11 511 eNo _ 2115 693.46 212 22 7Oa 7s5,35 2A 222.22 273 511,11 275 ?7 32 0@ ooo_e 3?
1 25 "3 5$ sir-a- l3 1 11,1 .3i 64 225 A 55 6<t2,92 4g 409,55 33126,42 aog59a,o3 461 .

!36,75 421 l I I s/ os4.53 s47 Orl.€a 9,r7 (}5,r.6€ qr7 054.63 947 05rt,68 947 054.6A s47 05/r-6a .

9,{7 054,6A 1 !

!r 439 214,90 2 3 1 2 2t 19 s l2o ooo.co __L t _l ltait ls-l:w 26222.22 6a 165.56 a9 066.67 32177.7A 12 266.67 _ 1 ,t 2 t6 21 22 f-i#- Itsr:t iiiF'l 1';;i-l 12 -!a_q Itfgs v