WASHINGTON– The World Bank has approved Liberia’s second Resilient and Inclusive Growth Development Policy Financing (DPF) to bolster inclusive growth and resilience by strengthening fiscal resilience, enabling foundations for private sector development and supporting social, disaster and shocks resilience.
A World Bank press release issued recently, says the financing amounts to. $55.8 million
This Development Policy Financing is the second in a programmatic series. It is aligned with the ARREST Agenda for Inclusive Development, the World Bank Group (WBG) Country Partnership Framework (CPF), Mission 300, the WBG Gender Strategy, and the WBG Jobs Agenda. With most Liberians employed in low-productivity informal activities, the DPF advances reforms to strengthen the business environment and productive sectors, supporting the CPF objective to build foundations for more and better jobs in Liberia.
“This new financing prioritizes resource mobilization, Public Financial Management, institutional transparency and accountability,” said Georgia Wallen, World Bank Liberia Country Manager. “It supports measures for the financial viability of the Liberia Electricity Corporation (LEC) and strengthens the enabling framework for renewable energy investment. Expanding reliable and affordable electricity access helps create conditions for greater private participation, which is essential for creating more and better jobs.”
This Development Policy Financing will drive reforms to deepen financial inclusion and ensure that the business environment is aligned with efforts to attract private investment in high job creation sectors. Actions to strengthen disaster risk financing and shocks resilience supported by the Global Facility for Disaster Reduction and Recovery will further support a more resilient and sustainable economy. The policy and institutional reforms supported by this operation are expected to contribute to growth through improved access to financial services, stronger social protection frameworks, and enhanced environmental and climate resilience.
“This new operation will help close the emerging financing gap while preserving macroeconomic stability, maintaining fiscal discipline, and sustaining implementation of reforms—especially on revenue mobilization, procurement transparency, and expenditure management—that enhance resilience to shocks,” said Muhammad Waheed and Mary Elinor Boyer, Co-Task Team Leaders.
Contacts:
In Monrovia: Michael Nyumah Sahr, [+231 886 514 321, msahr@worldbank.org