In a pivotal move to stimulate Liberia’s economic growth, the Minister of Finance and Development Planning, Hon. Augustine Ngafuan, has committed to unlocking the country’s economic potential through essential infrastructure, focusing on roads and energy. Minister Ngafuan shared this ambitious vision during the recent World Bank and International Monetary Fund (IMF) annual meetings in Washington, D.C., following discussions with World Bank Vice President for Western and Central Africa, Ousmane Diagana, and his regional directors.
According to Ngafuan, roads and energy infrastructure are paramount for Liberia’s future, which faces significant challenges due to inadequate road networks and a lack of reliable energy sources. “Our ambition is to unlock Liberia’s economy through roads and energy,” he emphasized, underscoring the government’s resolve to tackle the nation’s longstanding developmental bottlenecks.
In his discussions, Minister Ngafuan highlighted that robust road and energy infrastructure are critical to enhancing economic opportunities across sectors. He appreciated the World Bank’s continued support, which aligns with Liberia’s National Development Plan, known as the ARREST Agenda. The plan, aimed at accelerating recovery and stability, underscores infrastructure improvement as a fundamental priority for the country’s path toward sustainable development.
“The government is key and committed to achieving this milestone development,” Ngafuan said. “We are making frontier efforts with big force and urgency to address the binding constraints associated with roads and energy.” He explained that improving infrastructure would create a conducive environment for private sector growth and job creation, two essential components for Liberia’s overall economic revitalization.
Liberia’s government has been working closely with international partners to secure funding and technical support for its ambitious infrastructure goals. During the World Bank meeting, Ngafuan underscored the need for counterpart funding from institutions such as the World Bank and other development partners to finance critical infrastructure projects. He noted that overcoming infrastructure challenges would pave the way for broader access to development opportunities and empower Liberians to contribute actively to economic growth.
“When infrastructure needs are addressed, Liberians will have the opportunity to design, develop, and have access to development frameworks where private sector job access will increase,” Ngafuan emphasized.
The government’s commitment to infrastructure goes beyond mere planning; it involves setting clear goals and timelines. For 2025, Ngafuan announced a strategic focus on key areas like roads, energy, and health, aiming to lay down the foundational blocks for national growth and development. This multifaceted approach, which includes improving transportation networks and energy access, aims to support other critical sectors, including agriculture and health, thereby creating a ripple effect across the economy.
The challenges associated with Liberia’s road conditions have historically impeded growth in rural areas, limiting investment and development in counties with potential. “Liberia has been bleeding with bad road conditions,” Ngafuan noted, “a circumstance that continues to cripple our economy and affect all sectors.” Improving the nation’s road networks would not only enhance accessibility but also attract investment and ease the movement of goods and services, which are vital to fostering economic stability.
World Bank Vice President Ousmane Diagana commended Ngafuan’s leadership, praising his collaboration and dedication to Liberia’s economic transformation. Diagana also acknowledged the government’s proactive measures in addressing corruption and public fund mismanagement, highlighting President Boakai’s efforts to tackle these issues.
“Let me commend you and the government for the early step you have taken to control corruption and misuse of public funds,” Diagana remarked. The World Bank has been a longstanding partner in Liberia’s development. Diagana assured that the institution remains committed to collaborating with the Ministry of Finance to address the pressing infrastructure needs.
Liberia’s current infrastructure deficits are a significant deterrent to private sector investments. Poor road conditions not only hinder accessibility but also escalate the cost of doing business, deterring potential investors who would otherwise contribute to economic diversification and job creation in underserved areas. The government recognizes that growth will remain stagnant without addressing these basic infrastructure needs, and this will limit the private sector’s ability to flourish.
Minister Ngafuan outlined that with the completion of these infrastructure projects, counties previously cut off from mainstream economic activities will have greater access to markets and services. The push for reliable energy infrastructure also benefits sectors beyond transportation, including manufacturing and healthcare, where consistent energy access remains critical.
The government’s vision for 2025 will require continued cooperation with stakeholders, including domestic players and international institutions. The presence of high-ranking Liberian officials, such as Agriculture Minister Dr. Alexander Nuetah and Deputy Minister for Economic Management Hon. Dephue Zuo, underscored the government’s unified stance on infrastructure development as a cornerstone of the country’s economic strategy.
Liberia is prepared to engage with a broader network of development partners to achieve its infrastructure goals. The recent discussions between Ngafuan and the World Bank signal an alignment of goals that could drive Liberia toward a future of enhanced connectivity, improved livelihoods, and sustainable growth.
