The World Bank and the Government of Liberia have signed two landmark agreements worth $30 million to enhance institutional transparency and accountability and to expand electricity supply to 500,000 customers across the country.
The agreements were signed by the World Bank Country Manager, Ms. Georgia Wallen, and the Liberian Minister of Finance and Development Planning, Boima Kamara, during a ceremony held on Wednesday, July 3, 2024, on the tenth floor of the Ministry of Finance and Development Planning.
Ms. Wallen emphasized that these agreements align with the government's ARREST agenda and reaffirmed the World Bank's commitment to supporting Liberia, particularly in resolving challenges in the electricity sector.
She described the projects as a significant milestone during her tenure and under President Joseph Boakai's administration, highlighting their importance in advancing the ARREST agenda.
"These projects are essentially turning on the light in different and complementary respects," Ms. Wallen said. "The first project focuses on governance, reform, and accountability, enhancing transparency and bringing the government closer to the Liberian people. It will strengthen accountability institutions and support domestic resource mobilization, aiming to reach 2.15 million people with digitally enabled services within six years."
She continued, "The Liberia Electricity Strengthening Project, now in its second phase, will extend access to electricity to new communities, benefitting 500,000 people and increasing connections by 900,000. It will also reach the hardest-to-access areas and bolster the operational capacity of the Liberia Electricity Corporation (LEC)."
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Also speaking, Finance Minister Kamara hailed the projects as transformative for Liberia, addressing crucial aspects of accountability, transparency, governance, and capacity-building.
He underscored the projects' alignment with President Boakai's ARREST agenda, noting that energy is vital for sectors such as law, agriculture, infrastructure, education, health, and transportation.
"With the addition of the $30 million agreement, the World Bank's support in the energy sector totals approximately $80 million, showcasing the institution's significant investments in Liberia in recent years," Minister Kamara stated.
He also mentioned that the World Bank has approved $190 million for Liberia in 2024, promising that the funds will be used appropriately to provide electricity and enhance transparency.
Minister of Mines and Energy, Wilmot Paye, remarked that the agreement signals improvements in Liberia's energy sector, highlighting the positive responses from international development partners.
For his part, LEC Managing Director, Monie R. Captan, expressed gratitude for the World Bank's collaboration, emphasizing the long-term economic benefits of improved electricity access for Liberia's development.
The signing ceremony was attended by notable officials, including Minister Wilmot Paye and Monie Captan, underscoring the importance of these agreements for Liberia's future.
