The Small and Medium Enterprises Development Agency (SMEDA) has secured a $26.9 million grant from the United Nations Industrial Development Organization (UNIDO) and the Global Environment Facility (GEF).

With this, the agency is set to implement the Promotion of Climate Adaptation Technology and Business Model Innovations and Entrepreneurship in Sierra Leone (CATBIE) project. This transformative initiative will target key sectors such as water, energy, and food, aiming to foster sustainability, resilience, and economic growth. The CATBIE project will focus on providing capacity building, technology transfer, business coaching, and enhanced access to finance for SMEs. It is expected to create 200 new jobs and support 250,000 vulnerable individuals, including 40 percent women and 20 percent youth.

The project’s emphasis on climate adaptation technology and innovative business models will not only empower SMEs but also address pressing environmental challenges. A National Adaptation Innovation Platform will be established under the project to promote collaboration among stakeholders, drive research, and facilitate the adoption of climate-smart solutions across the country.

In alignment with SMEDA’s broader mandate, this initiative complements ongoing efforts to expand opportunities for SMEs. Over the years, SMEDA has championed programs that enhance access to capital, build entrepreneurial capacity, and encourage innovation within the SME sector.

The CATBIE project underscores SMEDA’s commitment to driving economic diversification, creating employment, and fostering inclusivity in Sierra Leone’s economic landscape.

Additionally, SMEDA is working closely with other national and international partners to ensure that the grant is efficiently utilized to achieve its intended outcomes. By empowering SMEs to adopt sustainable practices and innovative technologies, SMEDA continues to position itself as a key driver of Sierra Leone’s socio-economic transformation.