In a significant gesture of continued support, the African Development Bank (AfDB) has reaffirmed its commitment to Liberia’s development during a recent high-level visit. Executive Director Rufus N. Darkortey, who represents Liberia, The Gambia, Ghana, Sudan, and Sierra Leone at the Bank, concluded a five-day mission to Liberia, meeting with key officials including President Joseph Nyuma Boakai.
The discussions, held from July 8-12, marked Darkortey’s first official engagement with Liberia since the election of President Boakai. They focused on aligning the Bank’s support with Liberia’s development priorities, emphasizing sustainable and inclusive growth. Key areas of focus included infrastructure development, SME-led private sector growth, bolstering domestic resource mobilization, and enhancing agricultural productivity.
President Boakai praised the African Development Bank for its pivotal role in Liberia’s development, particularly under the leadership of Dr. Akinwumi Adesina. He expressed his commitment to implementing necessary reforms to accelerate the nation’s progress, especially in infrastructure and economic sectors.
Darkortey highlighted the Bank’s extensive portfolio in Liberia, noting that 56% of its investments are directed towards transport, 28% to energy, and 8% to agriculture. Among the notable projects are the Fish Town-Harper highway and a cross-border high-voltage transmission line, which aims to interconnect Liberia with neighboring countries including Cote d’Ivoire, Sierra Leone, and Guinea.
The Bank’s support also extends to youth entrepreneurship, with initiatives like the Youth Entrepreneurship Investment Bank, which has already secured $16 million to support over 30,000 youth-led enterprises in Liberia’s agribusiness sector. This initiative aligns with President Boakai’s ARREST Agenda, a comprehensive national development plan targeting agriculture, infrastructure, and other critical sectors to foster inclusive growth.
Looking ahead, the AfDB plans to mobilize up to $5 billion for the Liberty corridor project, a world-class rail system connecting Liberia’s Didia port to Guinea, announced at the Bank’s 2024 Annual Meetings in Nairobi. This ambitious project is set to significantly enhance regional trade and economic integration.
The African Development Bank’s sustained support for Liberia and the Mano River Union region underscores its commitment to harnessing the area’s agricultural potential, creating employment opportunities, and addressing regional fragility.
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For more information on the African Development Bank Group, visit www.AfDB.org.
