Africa-Press – Liberia. The Management of the World Bank has committed to providing US$490 million in support of the Boakai-Koung-led government’s ARREST Agenda for Inclusive Development through its upcoming Country Program Framework (CPF), signaling a major boost to Liberia’s development priorities.
The new Country Framework, expected to be presented to the World Bank Board at the end of this month, targets key sectors including energy, education, agribusiness, and digital transformation. Under the energy component, the initiative aims to increase electricity access in Liberia from 33% to 75%, a move that is expected to significantly reduce electricity costs and expand national access to power.
The announcement was made by World Bank Vice President Ousman Diagana during a high-level meeting with the Liberian delegation led by Finance and Development Planning Minister Hon. Augustine Kpehe Ngafuan, on the margins of the IMF/World Bank Spring Meetings.
As part of his engagements, Minister Ngafuan also met with Mr. Sultan Al-Marshad, CEO of the Saudi Fund for Development, where the Fund reaffirmed its commitment to co-finance the Salayea-Voinjama section of the Gbarnga-Mendikorma Road Project. This follows previous talks with Kuwait and other Arab lenders aimed at enhancing infrastructure connectivity in Liberia’s northwestern region.
In a separate but related development, Minister Ngafuan was unanimously elected Chairperson of the Standing Committee of the Board of Governors of the African Development Bank (AfDB) on Conditions of Service for Elected Officers.
His tenure will cover the 2025–2026 period, with committee membership comprising Gabon, Korea, Ireland, Guinea Bissau, and Liberia.
These developments underscore Liberia’s growing regional and international engagement, as well as its ability to attract substantial development financing in pursuit of inclusive growth and poverty reduction.
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