The government through the Ministry of Finance and Development Planning (MFDP) and the World Bank (WB) have signed two separate financing agreement in the tune of US$80 million for governance and energy initiatives in Liberia.
US$30 million from the International Development Association (IDA) credit will be allocated to enhancing governance reform and accountability in public sector, while US$45 million will finance the strengthening and expansion of the Electricity Sector to the leeward counties.
In addition, the country has also been awarded a Trust Fund grant of US$5 million, in which Finance Minister, Boima S. Kamara emphasized the importance of energy, calling it the driving force behind the National Development Agenda (ARREST Agenda for Inclusive Development).
Signing on behalf of the government Wednesday, July 3, 2024, Minister Kamara noted that energy impacts agriculture, the rule of law, rural infrastructure, sanitation, and tourism development, all for the benefit of the citizenry.
He also highlighted that the signing of the two agreements is a foundation for further support, thus encouraging his colleagues across the government to compete for the US$190 billion approved by the World Bank’s IDA Board earlier in March 2024 to benefit the country and encourage the World Bank to invest in fiscal management.
Earlier, World Bank Country Manager, Georgia Wallen emphasized that the financing agreements with the government aims to enhance transparency and boost domestic resource mobilization in Liberia.
She indicated that the Liberia Electricity Sector Strengthening and Access Expansion Project is designed to provide energy access to 500,000 people in rural areas, something added that the World Bank is committed to ensuring it is successfully implemented.
Mines and Energy Minister, Wilmot Paye described the signing as a significant expansion of the country’s energy sector and encouraged other government agencies to prepare for the transition from a post-pay to a pre-pay regime for the purchase of electricity.
Meanwhile, providing the overview of the project, Deputy Finance Minister for Economic Management, Dehpue Y. Zuo intoned that governance reform and transparency are central to the effort of the Boakai-Koung’s administration.
He emphasized that developing capacity within the civil service is essential to reducing Liberia’s dependence on external expertise, adding that by the project’s conclusion, the use of local Liberian talent will increase significantly to utilize donor funding, while reliance on foreign expertise will decline sharply.
The Executive Director of Rural Renewable Energy, Samuel D. Nagbe, and the Chief Executive Officer of the Liberia Electricity Corporation (LEC), Monnie R. Captain, emphasized the importance of government intervention in the energy sector.
They highlighted that such involvement is crucial for providing affordable energy to schools, healthcare centers, and other public facilities, where it is a scarce resource.
In another development, Finance Minister, Boima S. Kamara is calling on international and donors partners including allies to remain dedicated to supporting the country’s developmental efforts.
Minister Kamara emphasized that under President Joseph N. Boakai’s leadership, significant strides have been made to include ordinary citizens in the creation of a national agenda that reflects their hopes and aspirations.
He highlighted that the days when a small group in Monrovia made decisions on behalf of the majority are over, and announced the start of consultations across counties and districts for the development of the “ARREST Agenda for Inclusive Development (AAID).”
Starting in mid-July, two local think tanks, Subah-Belleh Associates (SBA) and Africa Development Management Associates (ADMA), will spearhead the consultations for the AAID, the Public Sector Investment Plan (PSIP), and the County Development Agendas (CDAs).
Minister Kamara, during his first meeting with ambassadors and other international partners at the One UN House in Monrovia Wednesday, July 3, 2024, further revealed that these plans are set to be launched in November this year and will guide the formulation of the national budgets.
He then expressed gratitude to Liberia’s partners for their ongoing support and called for continued assistance towards the rebuilding process of Liberia over the next six years of the Unity Party (UP) government being headed by President Joseph Boakai.
In brief statements, the dignitaries praised the government’s people-centered approach in developing its Agriculture, Roads, Rule of Law, Education, Sanitation and Tourism (ARREST) agenda.
They further viewed this as a crucial step towards ensuring that the country’s development aligns with the people’s aspirations and committed to assisting the government in its efforts to alleviate poverty.
