MONROVIA, LIBERIA-A delegation from the African Development Bank (ADB) Group is holding series of meetings with relevant Government agencies and other institutions in the private sector.
Six of the ADB’s Executive Directors from several regions of the world are forming part of the weeklong consultation mission to Liberia.
At a meeting between members of the delegation and officials of the Finance Ministry in Monrovia on Monday, March 20, 2023, Acting Finance Minister, Samora Wolokollie, expressed appreciation to the AfDB for its support to the Government and people of Liberia.
In remarks, the Executive Director and Dean of the AfDB Boards, Ahmed Zayed, assured of the Bank’s continued support to Liberia in the area of institutional capacity building.
Meanwhile, the AfDB Delegation is expected to hold discussions with the Ministries of Public Works, Agriculture, and Commerce, the Liberia Business Association, commercial banks and university students, among others.
At the same time, the Board of Directors of the African Development Bank has approved a four-million United States Dollar grant for the Central Bank of Liberia (CBL).
The grant will be used to upgrade the National Electronic Payment Switch at the CBL.
Making the disclosure on Monday, March 20, 2023, in Monrovia, AfDB Country Manager to Liberia, Benedict Kanu, said:” The move is in line with the Government’s drive to promote private sector development and prudent financial inclusion.”
According to Mr. Kanu, the money seeks to address such weak area and addressing it will drive transformation.
The National Electronic Payment Switch is part of the CBL reform programs to modernize the National Payment System and bring the system in line with international standards for safety and efficiency.
