Frontier Markets

Sierra Leone: 30 Percent Of Ebola Aid Funds Vanished

Photo courtesy of European Commission DG ECHO. CC BY-SA 2.0

Photo courtesy of European Commission DG ECHO. CC BY-SA 2.0

The auditor of Sierra Leone noted that the country can’t explain how 30 percent of Ebola funds were spent and there is no documentation to support $3.3 million of contracts. The amount does not include grants or loans from international organizations Bloomberg said.

“Monies that have been set aside for the purpose of combating the Ebola outbreak may have been used for unintended purposes, thereby slowing the government’s response to eradicate the virus” report said.

Last year, about 9,000 people have died since the disease was first found in West Africa in December 2013. That was the worst outbreak of Ebola on record.

According to an analysis by the BMJ, a medical journal, about a third of the $2.9 hadn’t reached the affected countries as of end of last year and the United Nations is seeking another $1 billion to make sure the Ebola is tackled successfully in Sierra Leone, Liberia and Guinea.

The International Monetary Fund granted West Africa debt relief of about $100 million in total. The IMF additionally offered the nations $160 million in zero-interest loans [Ebola In Africa: IMF Grants $100 Million To Guinea, Liberia And Sierra Leone].

The Transparency International Report 2013 placed Sierra Leone as the most corrupt country in the world.

Ebola

Courtesy of Bloomberg

About ETFalpha

Chief ETF Strategist & Co-Founder at EMerging Equity

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