Washington, D.C. USA: The World Bank has pledged a significant financial boost to Liberia, with a commitment of US$490 million in support of the country’s national development priorities under a new Country Program Framework (CPF).
The announcement was made by World Bank Vice President Ousman Diagana during a high-level meeting with a Liberian delegation led by Finance and Development Planning Minister Augustine Kpehe Ngafuan. The meeting took place on the sidelines of the IMF/World Bank Spring Meetings in Washington D.C. USA.
The new CPF, expected to be formally submitted to the World Bank Board by the end of the month, targets key sectors critical to Liberia’s growth. These include energy, with plans to expand electricity access from 33% to 75%, thereby reducing electricity costs and boosting productivity. Other priority areas are education, agribusiness, and digital transformation.
In a related development, Minister Ngafuan and his delegation also met with Sultan Al-Marshad, Chief Executive Officer of the Saudi Fund for Development. The Saudi Fund pledged to join forces with Kuwaiti and other Arab financial institutions to finance the Salayea–Voinjama leg of the Gbarnga–Mendikorma Road Project, a critical infrastructure initiative aimed at enhancing regional connectivity and economic activity in Liberia.
Meanwhile, 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 for the 2025–2026 term. The committee includes representatives from Gabon, Korea, Ireland, Guinea-Bissau, and Liberia.
The developments mark a strong show of international confidence in Liberia’s reform agenda and a major step forward in the country’s push for economic transformation.
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