A high-level Liberian delegation, spearheaded by Finance & Development Planning Minister Augustine Kpehe Ngafuan, engaged in substantial discussions with a World Bank delegation at the Tokyo International Conference on African Development (TICAD) on August 22, 2025. The World Bank contingent, led by IFC Managing Director Maktar Diop, included key figures like Ethiopis Tafara, IFC Regional Vice President for Africa, and Ousmane Diagana, World Bank Regional Vice President for Africa. Representing the Liberian government were prominent officials such as Foreign Minister Sara Beysolow Nyanti, Education Minister Dr. Jarso Jallah, National Investment Commission Chairman Jeff Blibo, Commerce Minister Magdalene Dagoseh, Agriculture Minister Dr. J. Alexander Nuetah, Mines & Energy Minister Wilmot J. Paye, and National Port Authority Managing Director Sekou Hussein Dukuly. The meeting signaled a significant step in strengthening the partnership between Liberia and the World Bank, with a particular focus on private sector development.
The central theme of the discussions revolved around the International Finance Corporation’s (IFC) strategic plan to amplify its support for private sector investments within Liberia. This amplified support would encompass various mechanisms, including direct equity participation by the IFC, demonstrating a commitment to fostering sustainable economic growth within the country. The targeted sectors for this investment boost included key areas vital to Liberia’s development, such as energy, agriculture, tourism, and financial services. These sectors represent crucial drivers of economic diversification and job creation, aligning with Liberia’s broader development agenda. The engagement of the IFC, the private sector arm of the World Bank Group, underscores the importance of leveraging private capital and expertise to accelerate Liberia’s economic progress.
Beyond the IFC’s specific plans, the delegations also reviewed the existing World Bank portfolio in Liberia, which represented a substantial commitment of nearly US$1 billion in net commitments. This significant investment portfolio reflects the World Bank’s ongoing support for Liberia’s development priorities. The discussions acknowledged the positive progress made in disbursing these funds, attributing the increased disbursement rate to improved project delivery and implementation. This highlighted the effectiveness of the collaborative efforts between the Liberian government and the World Bank in ensuring that allocated funds translate into tangible development outcomes on the ground. Furthermore, both sides emphasized the need to further accelerate project implementation to unlock even greater levels of World Bank support for Liberia’s Agenda for Reconciliation, Reform, and Reconstruction (ARRREST).
The ARREST Agenda serves as Liberia’s overarching development framework, aiming to consolidate peace, strengthen governance, and promote inclusive economic growth. By accelerating project implementation, Liberia aims to demonstrate its capacity to effectively utilize development assistance and thereby attract further investment from the World Bank and other development partners. This focus on efficient implementation underscores the government’s commitment to maximizing the impact of development resources and achieving sustainable development goals. The meeting at TICAD provided a platform for reaffirming the shared commitment of Liberia and the World Bank to this crucial development agenda.
The collaborative discussions between the Liberian and World Bank delegations signify a deepening partnership focused on fostering private sector-led growth and accelerating development progress. The IFC’s commitment to increasing its investment footprint in Liberia, coupled with the World Bank’s ongoing support through its existing portfolio, signals a positive trajectory for Liberia’s economic future. The emphasis on improved project implementation and the alignment with Liberia’s ARREST Agenda further reinforces the commitment of both parties to achieving tangible development outcomes. This renewed focus on private sector development and efficient implementation of development projects holds the potential to unlock significant economic opportunities and contribute to Liberia’s long-term prosperity.
In conclusion, the meeting between the Liberian and World Bank delegations at TICAD represented a significant step towards strengthening their development partnership. The discussions centered on key areas including increased private sector investment through the IFC, a review of the existing World Bank portfolio, and the importance of accelerating project implementation to unlock further support for Liberia’s ARREST agenda. This renewed focus on private sector development, coupled with efficient utilization of existing resources, sets the stage for accelerated economic growth and sustainable development in Liberia. The collaboration between the Liberian government and the World Bank promises to play a pivotal role in driving forward Liberia’s development aspirations and achieving its long-term economic goals.
