Monrovia, Liberia – The World Bank has committed US$490 million under a new Country Program Framework (CPF) to support key sectors including energy, education, agribusiness, and digital transformation.
The announcement was made by World Bank Vice President Ousmane Diagana during a high-level meeting with Liberia’s delegation, led by Finance and Development Planning Minister Augustine Kpehe Ngafuan, on the sidelines of the 2025 IMF/World Bank Spring Meetings in Washington, D.C.
The new funding package is expected to significantly bolster Liberia’s economic growth and social development agenda, particularly through expanding electricity access from 33% to 75%, which officials say will reduce energy costs and spur investment.
“The World Bank’s support marks a turning point in our national development journey,” said Minister Ngafuan. “With enhanced energy access and targeted investments in agriculture and education, we are well on our way to transforming Liberia’s economy and improving livelihoods.”
The CPF is scheduled for formal presentation and approval by the World Bank Board later this month.
Salayea–Voinjama Road Gets Financing Boost
In a separate development, Minister Ngafuan also secured renewed commitments for the Gbarnga–Mendikorma Road Project, specifically the Salayea–Voinjama corridor, during a follow-up meeting with Sultan Al-Marshad, Chief Executive Officer of the Saudi Fund for Development.
The meeting reaffirmed Arab donor support, including commitments from Kuwait and other Gulf states, for crucial infrastructure development in Liberia.
AfDB Leadership Recognition for Liberia
Capping off a week of high-profile engagements, Minister Ngafuan was unanimously elected Chairperson of the African Development Bank’s (AfDB) Standing Committee on Conditions of Service for Elected Officers.
His term will span from 2025 to 2026.
The election took place during the multilateral meetings in Washington and includes representation from Gabon, Korea, Ireland, Guinea-Bissau, and Liberia.
“This honor reflects the growing respect Liberia commands in global economic and development circles,” said Ngafuan, noting that Liberia’s voice continues to strengthen on the continental stage.
As Liberia pushes forward with its ARREST Agenda—an acronym for Agriculture, Roads, Rule of Law, Education, Sanitation, and Tourism—the newly announced partnerships are seen as pivotal to achieving the nation’s development goals.
