World Bank grant to support Liberia’s economic and governance reforms

5 Feb 18

Liberia and the World Bank have signed a $24.67m grant agreement to boost economic transformation and governance in the west African country.

Under the agreement there will be a focus transparency and accountability, as well as budget execution and oversight, local media reported.

This is the World Bank’s first development support to the new Liberian government and president George Weah.

The agreement includes $20m for the implementation of Liberia’s Fourth Poverty Strategy and $4.67 for a forest landscape single donor trust fund.

It will also address constraints to growth, such as electricity generation and provision, and improve access to education and health.

Last week, Weah announced he would cut his $100,000 salary by a quarter to fix the “broken” economy.

In his first nationwide address, he noted that the Liberian government’s revenue had declined by 13% in 2017 from the year before.

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