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ADB approves Liberias 5-year Strategy Paper

By Patrick Flomo

(mylbsonline.com/Liberia)-The Board of Directors of the African Development Bank (ADB) has approved a 5-year Country Strategy Paper (CSP) for Liberia.

The paper, under the heading, the “Joint Assistance Strategy,” will support the Liberian Government’s Transformation Agenda, covering the period 2013 to 2017. The paper, prepared jointly by the Liberian Government

and the World Bank for 2008 – 2012, is linked to the country’s long-term vision of becoming an inclusive middle income country by 2030.

In approving the paper, the AFDB’s Board took into consideration the huge infrastructure bottlenecks Liberia is being faced with.

The Board believes that such bottlenecks have continued to prohibit inclusive development and economic diversification, including extremely limited and expensive access to energy and, poor and dilapidated road network.

The AFDB said: “Strengthening Liberia’s institutional capacity is necessary to implement government’s significant investment plans and to efficiently and transparently managing increased revenues in line with its development strategies.”

According to a release, the strategy is guided by two pillars, including promoting inclusive economic growth through transformative infrastructure investments, and enhancing governance and the efficient resource management.

The 2013 – 2017 strategy also emphasizes greater selectivity of the Bank’s interventions, aimed at consolidating its operations and responding to the government’s priorities.

The Bank has strong presence in the governance sector, where challenges remain, despite significant accomplishment.

The proposed upgrading of the rehabilitated Fish Town-Harper Road will consolidate the Bank’s previous investments in a region, where other donors do not have strong presence.

Energy is the government’s top priority, and the Bank has been involved in this sector with the preparation of the West African Power Pool, “Cote d’Ivoire-Liberia-Sierra Leone-Guinea,” interconnection project, the release added.

The release also noted: “The Bank’s proposed interventions in the energy and transportation sectors are also integrated into the Mano River Union Initiative in which the Liberian Government is playing a key role in promoting the Bank.”

Discussing the important role Liberia’s Field Office will play in the implementation of the CSP, the CBL Resident Representative, Margaret Kilo, said: “Capacity building will form a major component of every Bank Group intervention.

“This will ensure investments’ sustainability, especially maintenance of the country’s economic and social infrastructure,” Madam Kilo said.

 


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