{"id":53816,"date":"2024-03-08T15:00:05","date_gmt":"2024-03-08T15:00:05","guid":{"rendered":"https:\/\/www.africa-press.net\/liberia\/all-news\/ifc-delegation-meets-vp-koung"},"modified":"2024-03-08T16:20:20","modified_gmt":"2024-03-08T16:20:20","slug":"ifc-delegation-meets-vp-koung","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/liberia\/all-news\/ifc-delegation-meets-vp-koung","title":{"rendered":"IFC delegation meets VP Koung"},"content":{"rendered":"

Africa-Press – Liberia. <\/strong><\/span>A High Power Delegation from the International Finance Corporation (IFC) of the World Bank today, March 7, 2024, held discussions with Vice President Jeremiah Kpan Koung at his Capitol Hill office in Monrovia.<\/p>\n

According to the release, the delegation was headed by Madam Dahila Khalifa, Regional Director for Central Africa and Anglophone West Africa for the IFC.<\/p>\n

Madam Khalifa asserted that the IFC is keen to assist the Government of Liberia in unlocking the potential for private sector expansion.<\/p>\n

She singled out investments in energy and agriculture as the key to developing the private sector and creating jobs.<\/p>\n

The IFC Regional Director therefore announced the SCATEC Solar Energy project for Liberia.<\/p>\n

The project, when implemented, will produce about 20 megawatts per solar plant to help address Liberia\u2019s energy challenges.<\/p>\n

She however expressed that land acquisition remains a challenge to the commencement of the project.<\/p>\n

\u201cThe Solar project takes about six months to complete and offers an immediate solution to the energy crisis,\u201d Madam Khalifa explained.<\/p>\n

She also expressed the IFC\u2019s willingness to support Agriculture in Liberia to ensure value addition and improve manufacturing.<\/p>\n

\u201cAlthough the government\u2019s ARREST vision addresses major sectors of the economy, it falls short of energy, which is the engine for economic growth and development,\u201d Madam Khalifa observed.<\/p>\n

In his remarks, Vice President Koung indicated that Agriculture is the gateway to strengthening the private sector.<\/p>\n

He recounted Liberia\u2019s favorable climate, rich soil, and fertile land, which provide immense potential to attract investment.<\/p>\n

The release from the vice president\u2019s office said that on energy, Vice President Koung called for a public-private partnership.<\/p>\n

\u201cThe Government can play a regulatory role in the energy sector, focusing on power generation, while private companies lead the electricity distribution process,\u201d VP Koung said.<\/p>\n

The Vice President stressed that developing the agricultural sector would continue to remain a challenge unless the country improve its electricity supply.<\/p>\n

He emphasized that electricity is needed for processing, storing, and packaging commodities for local market and exportation.<\/p>\n

Vice President Koung identified the high-interest rates on loans from commercial banks as one factor responsible for debtors\u2019 non-servicing of loans.<\/p>\n

He pledged to work with relevant authorities to secure the land needed to begin the SCATEC Solar Energy project as soon as possible.<\/p>\n

The IFC is the World Bank\u2019s private sector arm, lending to the private sector to create investment opportunities and jobs.<\/p>\n

The Institution lends between 5 million and 50 million United States dollars to businesses in the private sector.<\/p>\n

It has a 17 million United States Dollars investment portfolio in Liberia. While in Liberia, Madam Khalifa and the delegation are expected to hold discussions with government officials and actors.<\/p>\n

For More News And Analysis About Liberia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Liberia. A High Power Delegation from the International Finance Corporation (IFC) of the World Bank today, March 7, 2024, held discussions with Vice President Jeremiah Kpan Koung at his Capitol Hill office in Monrovia. According to the release, the delegation was headed by Madam Dahila Khalifa, Regional Director for Central Africa and Anglophone […]<\/p>\n","protected":false},"author":84,"featured_media":53815,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,7,12],"tags":[233,237,234],"class_list":["post-53816","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-head-lines","category-policy","tag-africa-press","tag-africa-press-liberia","tag-liberia"],"yoast_head":"\nIFC delegation meets VP Koung - Liberia<\/title>\n<meta name=\"description\" content=\"A High Power Delegation from the International Finance Corporation (IFC) of the World Bank today, March 7, 2024, held di ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/liberia\/all-news\/ifc-delegation-meets-vp-koung\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IFC delegation meets VP Koung\" \/>\n<meta property=\"og:description\" content=\"A High Power Delegation from the International Finance Corporation (IFC) of the World Bank today, March 7, 2024, held di ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/liberia\/all-news\/ifc-delegation-meets-vp-koung\" \/>\n<meta property=\"og:site_name\" content=\"Liberia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-08T15:00:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-08T16:20:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/liberia\/sites\/37\/2024\/03\/sm_1709902103.14788.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"576\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/liberia\/all-news\/ifc-delegation-meets-vp-koung#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/liberia\/all-news\/ifc-delegation-meets-vp-koung\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/liberia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"IFC delegation meets VP Koung\",\"datePublished\":\"2024-03-08T15:00:05+00:00\",\"dateModified\":\"2024-03-08T16:20:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/liberia\/all-news\/ifc-delegation-meets-vp-koung\"},\"wordCount\":458,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/liberia\/all-news\/ifc-delegation-meets-vp-koung#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/liberia\/sites\/37\/2024\/03\/sm_1709902103.14788.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Liberia\",\"Liberia\"],\"articleSection\":[\"all news\",\"head lines\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/liberia\/all-news\/ifc-delegation-meets-vp-koung#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/liberia\/all-news\/ifc-delegation-meets-vp-koung\",\"url\":\"https:\/\/www.africa-press.net\/liberia\/all-news\/ifc-delegation-meets-vp-koung\",\"name\":\"IFC delegation meets VP Koung - 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