A multi -billion-dollar investment in the fishing sector in Sierra Leone will help the country to recover from years of conflict, U.N. officials said past Monday.
Kandeh Yumkella, the Director General of the U.N. Industrial Development Organization, signed an agreement in Moscow with Russian Deputy Foreign Minister Alexander Yakovenko to finance the reconstruction of the fishing sector in Sierra Leone.
Sierra Leone is one of the poorest countries in the world, suffering from years of turmoil tied to so-called conflict diamonds.
UNIDO under a 2009 deal signed with Moscow will use a $2.6 million per year contribution to promote economic development in the country.
Yumkella said conflict has left the fishing sector in shambles, adding UNIDO would develop a training program for large- and small-scale fishing industries.
UNIDO estimates the small-scale fishing sector in Sierra Leone accounts for 85 percent of all fish landed in the country. “When it comes to supporting development in Africa, the Russian Federation is clearly back on the map,” said Yumkella.