WASHINGTON — The World Bank has pledged US$490 million to support Liberia’s national development priorities under a new Country Program Framework (CPF), a significant boost to President Joseph Boakai’s administration as it seeks to implement its “ARREST” agenda.
The funding package, expected to be formally submitted to the Bank’s Board later this month, targets key sectors including energy, education, agribusiness, and digital transformation. One of the major objectives of the CPF is to increase energy access in Liberia from 33 percent to 75 percent, a move aimed at significantly reducing electricity costs and expanding availability across the country.
The commitment was announced by World Bank Vice President for Western and Central Africa, Ousmane Diagana, during a high-level meeting with the Liberian delegation led by Finance and Development Planning Minister Augustine Kpehe Ngafuan. The meeting took place on the margins of the ongoing IMF/World Bank Spring Meetings in Washington, D.C.
The Liberian delegation also held strategic discussions with Mr. Sultan Al Marshad, Chief Executive Officer of the Saudi Fund for Development. According to a statement from the Ministry of Finance, the Saudi Fund agreed to collaborate with Kuwaiti and other Arab financial institutions to provide financing for the Salayea-Voinjama stretch of the Gbarnga-Mendikorma Road Project, an infrastructure initiative considered critical for regional connectivity and economic integration in Liberia’s northwestern corridor.
In a separate development, Minister Ngafuan was unanimously elected as Chairperson of the African Development Bank’s (AfDB) Standing Committee of the Board of Governors on Conditions of Service for Elected Officers. His election, which spans the 2025–2026 period, places him at the helm of a key oversight body comprised of representatives from Gabon, Korea, Ireland, Guinea Bissau, and Liberia.
The series of engagements and financial commitments mark a significant diplomatic and developmental milestone for the Boakai administration, which has placed renewed emphasis on rebuilding infrastructure, promoting human capital development, and attracting international investment.
