18 September 2012

Liberia: GOL, ADB to Sign U.S $ 4.6 Million Grant

The Government of Liberia and the African Development Bank (AfDB) are expected to sign a US$4.6m institutional support grant for the Integrated Public Financial Management reform project as the Bank's President begins a two-day state visit to Liberia Tuesday.

A Ministry of Finance Press Release says the President of AfDB, Mr. Donald Kaberuka, will sign on behalf of the Bank, while Finance Minister Amara Konneh will sign for the Government of Liberia at the Ministry of Finance Wednesday.

While in the country, the AfDB President, Kaberuka, will meet with major Liberian stakeholders, including President Ellen Johnson Sirleaf, Finance Minister Amara Konneh and members of the National Legislature. He is also expected to hold meetings with donor partners.

The African Development Bank is so far the biggest African consolidated Bank in Africa and has co-founded projects in many Africa countries, including Liberia.

Presently, the AfDB supports the Government of Liberia in many projects, including water and sanitation, governance, agriculture and rural development, private banking, social infrastructure and finance, most of which will be completed by the end of this September.

Among some of the Bank's aids to Liberia include a more than US$5m support to the banking sector, US $45.53M to the Economic Governance and Competitiveness Support Program and US$5.87m for Capacity Building purposes in various Ministries and Public Agencies of Government.

The Agriculture sector rehabilitation Project received the amount of US$9.86m while the Smallholder Agriculture Productivity Enhancement and Commercialization received US$51.27m.

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