The National Road Fund (NRF) of Liberia, over the weekend, held a high-level meeting with a delegation from the International Monetary Fund (IMF), including the Public Investment Management Assessment (PIMA) and Climate PIMA teams.
Held at the NRF office in Monrovia, the discussions focused on key strategies for road sector investment, data-driven road budget planning, and the integration of climate resilience into infrastructure development, road asset management, and NRF operations.
The NRF team was, however, represented by Joseta Neufville Wento, Manager, and Albert K. Samukai, Chief Program Officer.
During the meeting, Madam Wento highlighted efforts to enhance transparency and accountability, from contract award processes to contractor performance, and the steps taken by the road fund, under board oversight, to ensure compliance.
Madam Wento also narrated that the NRF is exploring foreign direct investment opportunities in road and brigade maintenance to meet the sector’s critical infrastructure needs and boost economic activities.
She emphasized that, with proper structuring, the fund could attract foreign investments that would directly support infrastructure development.
Wento also discussed audits conducted by the NRF to ensure proper management and accountability of funds, which have garnered support from partners such as the African Development Bank (AfDB), which hired legal counsel to review amendments to the NRF Act and align it with international best practices.
She also narrated that the World Bank has also provided support to strengthen the reporting system, stressing the importance of building the capacity of the fund’s staff to foster innovation in the sector. Ms. Stone and her team expressed their appreciation for the significant progress made and the evidence-based approach demonstrated, noting that this brings clarity to the work being done.