World Bank Poised to Boost Unity Party’s ARREST Agenda with US$490M

Monrovia, Liberia: The World Bank has pledged a whopping US$490 million to support the Unity Party-led Joseph Nyuma Boakai ARREST development agenda under the bank’s Country Program Framework (CPF) initiative.

The CPF, expected to be presented to the World Bank Board by the end of the month, will focus on key sectors including energy, education, agribusiness, and digital transformation.

Notably, the program aims to expand access to electricity from 33% to 75%, significantly reducing energy costs and increasing nationwide connectivity.

This commitment was disclosed by World Bank Vice President Ousmane Diagana during a high-level meeting with the Liberian delegation led by Finance Minister Augustine Kpehe Ngafuan on the sidelines of the IMF/World Bank Spring Meetings.

In a related development, Minister Ngafuan also met with the Chief Executive Officer of the Saudi Fund for Development, Sultan Al-Marshad, who has reaffirmed the Fund's readiness to join Arab partners in financing the Salayea-Voinjama stretch of the Gbarnga-Mendikorma Road Project.

In other developments, Minister Ngafuan has been unanimously elected chairperson of the African Development Bank (AfDB) Standing Committee on Conditions of Service for Elected Officers.

In this role, Liberia will serve alongside Gabon, Korea, Ireland, and Guinea-Bissau on the committee from 2025 to 2026.