Liberia’s Finance and Development Planning Minister, Augustine Ngafuan, has laid out the government’s ambition to catalyze economic growth through improvements in the country’s road infrastructure and energy sector. During a meeting with the World Bank Vice President for Western and Central Africa, Ousmane Diagana, at the World Bank and International Monetary Fund (IMF) annual meetings in Washington, D.C., Ngafuan emphasized the critical importance of these two sectors as drivers for economic growth and development in Liberia. He expressed the government’s unwavering commitment to this vision, signaling a robust approach to tackling the barriers constraining growth in these fundamental areas.
Minister Ngafuan acknowledged the existing challenges facing Liberia’s infrastructure and the urgent need for strategic action to address them. He highlighted the country’s National Development Plan, known as the ARREST Agenda, which serves as a guiding framework for the government’s efforts to improve road and energy infrastructure. The Minister thanked the World Bank for their ongoing support, citing the importance of collaboration with international partners to meet the nation’s development goals. Ngafuan underscored the necessity of investing in infrastructure to enable a more conducive environment for private sector growth, stating that a better foundation would enhance job opportunities for Liberians.
The Minister called attention to the fact that financial resources must be mobilized to assist in infrastructure development, emphasizing the government’s intention to engage in counterpart funding with the World Bank and other development entities. By securing adequate funding, Liberia can work on overcoming the existing infrastructure deficits that hinder economic progress. Ngafuan articulated that by addressing these needs, Liberians would have the tools and opportunities to create their development frameworks and businesses, which would significantly boost economic activity and job creation.
Plans for infrastructural improvements are set to align with Liberia’s broader national growth strategy, with significant initiatives expected to commence as early as 2025. In particular, robust strategic and implementation plans for roads, energy, and health are deemed essential for the country’s advancement and economic stability. The prioritization of these areas is aimed at creating an environment conducive to investment and sustainable development, fostering economic resilience against various challenges.
Ousmane Diagana of the World Bank commended Minister Ngafuan for his proactive approach to addressing economic issues, particularly in tackling corruption and ensuring the effective use of public funds. Diagana praised the Liberian leadership under President Boakai for their immediate actions toward curbing corruption, acknowledging that a strong commitment to governance and accountability is vital for fostering investor confidence and economic stability. He expressed enthusiasm for continued collaboration between the World Bank and the Liberian government to alleviate the constraints that limit economic development.
The meeting also included key Liberian officials such as Dr. Alexander Nuetah, Agriculture Minister Dephue Zuo, and Deputy Minister for Economic Management, underscoring a collective commitment to overcoming developmental challenges. The discussions highlighted the necessity of cross-sector collaboration in pursuing infrastructure development that aligns with Liberia’s economic goals. With the government’s commitment to enhancing road and energy infrastructure, there exists a substantial opportunity to unlock economic potential and stimulate growth across diverse sectors, ultimately providing a pathway towards sustainable development for Liberia.
