MONROVIA, LIBERIA-The World Bank has approved one-hundred-eighty-million United States Dollars to support two new projects for Liberia’s economic recovery.
The funding is under the Multi-phase Programmatic Approach (MPA), aimed at increasing access to sustainable, reliable and affordable energy and boost the Country’s economy.
The projects are the Liberia Electricity Sector Strengthening and Access Project (LESSAP) and the Recovery of Economic Activity for Liberia Informal Sector Employment Project (REALISE).
A World Bank released issued over the weekend said the LESSAP is the first project under the approach, with a goal of providing sustainable, reliable and affordable electricity to six-hundred-thirty-two-thousand-five-hundred Liberians.
The project will rehabilitate and expand electricity infrastructure and provide sustainable solutions for access to electricity.
The REALISE project will increase access to employment opportunities for some of the most vulnerable households in the informal sector, who are at risk to poverty.
The project also includes grant support of two-point-five million from the Energy Sector Management Assistance Program (ESMAP), and two-point-seven-million from Japan Policy and Human Resources Development Fund (PHRD), both of which will be administered by the World Bank.
By: Victor Kezelee