PHOTO: World Bank Country Manager, Georgia Wallen, Finance Minister, Boima Kamara
By Augustine Octavius, augustineoctavius@gmail.com
The World Bank and Liberia have signed two agreements value 30 million United States Dollars for the strengthening of institutions of transparency, accountability and the expansion of electricity supply to 500,000 customers in the country.
The Country Manager of the World Bank, Miss Georgia Wallen signed on behalf of her institution while the Minister of Finance and Development Planning, Boima Kamara, signed on behalf of the Liberian government.
She assured the Liberian government that the World Bank will continue to stand by Liberia especially in solving most of the problems especially in the electricity sector.
Miss Wallen described the two projects as a milestone since her inception as Country Manager of the World Bank and the Joseph Boakai’s administration because her institution sees these projects as really central in moving forward the ARRESST agenda.
“These projects are basically turning on the light in different and complementary respects,” she said; adding : “ the first project is about governance, reform and accountability transformation is about turning the light in terms of transparency and accountability; brining government closer to the Liberian people.”
“It will help strengthen accountability institutions and also help support the government’s effort in domestic resource mobilization.”
“We are aiming to support your efforts to reach 2.15million people with digitally enable services through this project by the end of six years.”
“Secondly,” she went on, “the Liberia Electricity Strengthening Project is a multi-phase approach and this is the second phase because the first phase was in 2021.”
“We are excited because this project will extend access to electricity to new communities and 500,000 people and it will increase 900,000 new connections.”
According to her, it will also extend electricity to hardest to reach areas and strengthen LEC operational capacity
For his part, Finance and Development Planning Minister , Boima Kamara , described the project as great because it talks about accountability, transparency , governance, reforms and strengthening capacities
“I see the signing of the these two agreements as a driver of President Joseph Boakai’s ARREST agenda because energy cuts across the rule of law, agriculture , increase infrastructural development, education , health and the vehicles that we ride.”
He added that the government believes that the signing of these two agreements is a testimony of the Boakai’s administration of a future that is long and foreseeable that will be greater than two.
According to Minister Kamara, with the addition of the 30million USD agreement, it will bring the World Bank support in the energy sector to about 80 million investments the global financial institution will be making in the country in recent years.
Kamara indicated that the signing of the 30 million is just a part of the bigger envelop that is yet to come because the board of directors of the World Bank have approved of 190 million United States Dollars to be used in Liberia in 2024.
The Finance and Development Planning Minister thanked the World Bank, on behalf of President Josepha Boakai, the government and the people of the Liberia.
Minister Kamara assured the World Bank that the money will be used for their intended purposes because they will go a long way in providing electricity to the populace and exhibiting transparency in the country.
Also speaking, the Minister of Mines and Energy, Wilmot Paye said the signing of the agreement on the energy sector is an indication that the environment of the energy sector is improving in the country.
This is a signal that Liberia is on the right track as evidence of the cooperation and responses from the international development partners in the electrical sectors.
Remarking during the program, the Managing Director of the Liberia Electricity Corporation, Monie Captan thanked the officials at the World Bank and the Finance Ministry for successfully negotiation that yielded the signing of the two Agreements.
“Electricity is so important because it is cross cutting in all aspects of development in our country,” he said; adding: “we are very happy because the World Bank has agreed to work with the Liberian government so that we can develop the electricity sector more because of the economic benefit.”
“Most of the times, we only look at the financial benefit, but we do not take into consideration of the long time economic benefits and this is something that we need to keep our eyes on.”
According to him, the resources needed to make electricity available to all has overwhelmed the government and it is based on this back
The program which was held at the tenth floor of the Ministry of Finance and Development Planning, was graced by Wilmot Paye, Minister of Mines and Energy; Monie Captan, Managing Director, Liberia Electricity Corporation, among others.