AfDB Wants Liberia Prioritize Development -Concludes Significant Consultation Mission in Liberia

MONROVIA: The Executive Director of African Development Bank (AfDB), Mr. Rufus N. Darkortey has concluded a significant consultation mission in Liberia with the objective to prioritize arrears for development at the African Development Bank. The week-long mission was to engage with H.E. President Joseph Nyuma Boakai, Sr., and the Liberian Government to prioritize areas for development in his country.

Mr. Darkortey, representing Liberia, representing The Gambia, Ghana, Liberia, Sierra Leone, and Sudan at the African Development Bank commenced the mission on July 8, 2024, beginning with a courtesy call at the Executive Mansion to meet with President Boakai.

During the meeting, he reaffirmed the commitment of Dr. Akinwumi A. Adesina, President of the African Development Bank, to support Liberia’s efforts towards sustainable growth and development, highlighting several ongoing Bank initiatives aimed at bolstering Liberia’s development, notable among which is the mobilization of funds ranging from $3 to $5 billion for the construction of the Liberty Corridor under the Bank’s broader agenda.

Addressing critical issues such as youth and women unemployment and access to business financing, Mr. Darkortey emphasized the Bank’s forthcoming Youth Entrepreneurship Investment Bank project for Liberia, pending ratification.

He underscored the Bank’s continued support for sectors including transport, energy, agriculture, and initiatives promoting gender equality and youth empowerment.

While reaffirming the Bank’s commitment to Liberia’s development agenda, Mr. Darkortey urged President Boakai’s administration to prioritize domestic resource mobilization for enhanced revenue generation.

He further stressed the importance of empowering the local private sector, particularly small and medium enterprises (SMEs), through improved access to financing. Agriculture, a cornerstone of Liberia’s economy, should also receive attention as a critical area deserving increased investment and support, he said.

At the Executive Mansion, President Boakai warmly welcomed Mr. Darkortey and acknowledged the African Development Bank’s pivotal role in driving economic growth not only in Liberia, but across the African continent.

He commended the Bank’s ongoing support for regional economic integration within the Mano River Union (MRU) subregion. President Boakai pledged to expedite the implementation of the Bank’s portfolio of projects in Liberia and committed to instituting necessary reforms to accelerate national development efforts.

During his mission, Mr. Darkortey also held meetings with H.E. Vice President Jeremiah Kpan Koung and engaged with various Liberian government ministries and agencies. The consultations were termed highly successful, underscoring strengthened collaboration between Liberia and the African Development Bank in advancing the nation’s development goals.

The consultation mission signifies a robust partnership aimed at fostering sustainable development and economic prosperity in Liberia, reflecting the African Development Bank’s steadfast commitment to supporting transformative initiatives across the continent.

Comments are closed.