By Stephen M. Roberts
MONROVIA, April 24 (LINA) – The World Bank Group has pledged a whopping US$490 million to Liberia under its upcoming Country Program Framework (CPF), aimed at bolstering President Boakai’s ARREST Agenda.
The new CPF, which is expected to be presented to the World Bank board by the end of the month, will focus on key sectors including energy, education, agribusiness, and digital transformation. Notably, the program aims to expand electricity access in Liberia from 33% to 75%, significantly reducing energy costs and increasing nationwide connectivity.
This commitment was disclosed by World Bank Vice President Ousmane Diagana during a high-level meeting with the Liberian delegation led by Finance Minister Augustine Kpehe Ngafuan, on the sidelines of the IMF/World Bank Spring Meetings, according to a Ministry of Finance release.
According to the statement, Minister Ngafuan also met with Sultan Al-Marshad, CEO of the Saudi Fund for Development, who reaffirmed the Fund’s readiness to join Arab partners in financing the Salayea-Voinjama stretch of the Gbarnga-Mendikorma Road Project.
Meanwhile, Minister Ngafuan has been unanimously elected Chairperson of the African Development Bank (AfDB) Standing Committee on Conditions of Service for elected officers. Liberia will serve alongside Gabon, Korea, Ireland, and Guinea Bissau on the committee from 2025 to 2026.
