African Development Bank Group (AfDB) / Press Release

Source: African Development Bank Group (AfDB) | Sep 11, 2024

Liberia: African Development Bank extends $400,000 in technical assistance to support pension sector

Liberia`s National Social Security and Welfare Corporation (NASSCORP), the only existing pension service provider in country, currently provides coverage to mainly formal sector public service employees

The African Development Bank Group (www.AfDB.org) has approved $400,000 in grant funding for the Liberia Pension Sector Intervention Project, to support the expansion of pension coverage in Liberia. The grant is being sourced from the Capital Markets Development Trust Fund (CMDTF), a multi-donor trust fund, managed by the African Development…

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- Propelling Growth: African Development Bank reaffirms support for Liberia under new government
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Source: African Development Bank Group (AfDB) | Aug 01, 2024

Propelling Growth: African Development Bank reaffirms support for Liberia under new government

Key focus areas of discussion included infrastructure development, SME-led private sector growth, bolstering domestic resource mobilization, and agricultural productivity

African Development Bank (www.AfDB.org) Executive Director Rufus N. Darkortey has concluded a five-day working visit to Liberia, where he held high-level discussions with major stakeholders, including President Joseph Nyuma Boakai. Darkortey, who represents Liberia, The Gambia, Ghana, Sudan, and Sierra Leone at the Bank, also met with Liberian Vice President…

Source: African Development Bank Group (AfDB) | Jun 21, 2024

Liberia: African Development Fund approves $10 million from Global Agriculture and Food Security Program (GAFSP) Trust Fund to scale up nutrition project

The proposed project is anchored on government priorities to improve food security and strengthen livelihood, agricultural transformation, and economic prosperity for all

The Board of Directors of the African Development Fund has approved an additional $10 million from the Global Agriculture and Food Security Program (GAFSP) to implement activities and scale up the impact of the Smallholder Agriculture Development for Food and Nutrition Security project in Liberia. The project aims to improve…

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- African Development Fund approves $16 million for Youth Entrepreneurship Investment Bank in Liberia
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Source: African Development Bank Group (AfDB) | Jul 20, 2023

African Development Fund approves $16 million for Youth Entrepreneurship Investment Bank in Liberia

The Youth Entrepreneurship Investment Bank is anticipated to support over 30,000 youth-led businesses during the next 17 years

In an exciting move to unleash the business potential of young Liberians, the Board of Directors of the African Development Fund (ADF) has given the green light for the creation of a Youth Entrepreneurship Investment Bank (YEIB) in the West African country. Approximately $16 million has been allocated to finance…

Source: African Development Bank Group (AfDB) | Jul 17, 2023

African Development Bank and Government of Liberia discuss major road project

Liberia’s government was represented by the Minister for Finance and Development Planning, Hon. Samuel D. Tweah, Jr., and Hon. Ruth Coker-Collins, Minister of Public Works

A delegation from the African Development Bank Group (www.AfDB.org) recently met senior government officials in Monrovia to discuss the Government of Liberia’s request for financing of a major highway along the country’s coastline. The proposed 444-kilometre coastal highway, from Bassa County to Grand Kru County, is expected to deliver…

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- L-R: AfDB Executive Director Rufus Darkortey; Seedy Keita, Finance Minister and AfDB Governor for The Gambia; Mohammed Amin Adam, Minister of State, Ministry of Finance and Economic Planning, Ghana; Augustus Flomo, Deputy Minister for Economic Management, Liberia; Bockarie Kalokoh, Deputy Minister of Finance, Sierra Leone; and Muhammad Bashar Muhammad, Undersecretary of Economic Planning, Sudan
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Source: African Development Bank Group (AfDB) | May 30, 2023

Five African Development Bank (AfDB) regional member countries set to join African Development Fund replenishment

The Gambia, Ghana, Liberia, Sierra Leone and Sudan plan to contribute $1 million each to ADF’s next replenishment cycle

Five African Development Bank (www.AfDB.org) Governors have signed an agreement committing to contribute at least $1 million to the replenishment of the African Development Fund (ADF), the concessional window of the Bank Group. Under the self-initiated agreement, the five-member constituency—The Gambia, Ghana, Liberia, Sierra Leone, and Sudan—will contribute to the…

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- West African Monetary Institute to receive $8 million from African Development Fund to support enhanced banking identification and financial sector efficiency in the West African Monetary Zone (1)
- West African Monetary Institute to receive $8 million from African Development Fund to support enhanced banking identification and financial sector efficiency in the West African Monetary Zone (2)
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Source: African Development Bank Group (AfDB) | Apr 07, 2023

West African Monetary Institute to receive $8 million from African Development Fund to support enhanced banking identification and financial sector efficiency in the West African Monetary Zone

The project is expected to enhance financial sector efficiency within the participating countries, leading to increased access to finance and further regional integration efforts

The Board of Directors of the African Development Fund has approved $8 million in funding toward the establishment of a digitally interoperable unique bank identification system and harmonised customer identification framework for The Gambia, Guinea, Liberia and Sierra Leone. Implementation of the project will commence in July 2023, led by the…

Source: African Development Bank Group (AfDB) | Mar 21, 2023

Liberia: African Development Fund grant to modernise payments infrastructure and systems

The project’s primary objective is to strengthen the payments ecosystem in Liberia for increased efficiency and to foster growth and innovation

The African Development Fund’s Board of Directors has approved $3.9 million grant to finance upgrade of Liberia's payments infrastructure and systems project. The approval of the grant from the Bank’s concessional lending window, was made on 17 March. The project’s primary objective is to strengthen the payments ecosystem in Liberia…

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- A new AfDB report proposes solutions, including expanded access to finance, to support the livelihoods of Liberia’s small-scale and artisanal miners
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Source: African Development Bank Group (AfDB) | Mar 01, 2023

Liberia: New African Development Bank study outlines steps to draw artisanal and small-scale miners into formal sector, boosting economy

The study draws on broad-based stakeholder consultations and a robust review and analysis of Liberia’s financial ecosystems

Expanding financial access for Liberia’s artisanal and small-scale mining sub-sector is feasible through formalization and de-risking measures, according to a recent study published by the African Development Bank (www.AfDB.org) and the Liberian government. According to the report, potential solutions to support the livelihoods of small-scale miners include setting up enabling…

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- Government representatives and experts from the Bank and the Mano River Union, joined by women traders to launch the BI-BEST project
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Source: African Development Bank Group (AfDB) | Dec 07, 2022

Mano River Union launches scheme to build inclusive business ecosystems (By Charleine MBUYI LUSAMBA & Hoda Tarek)

Sierra Leone’s Minister of Gender and Children's Affairs, Manty Tarawalli, commended the African Development Bank for what she said was a “well-thought” initiative to support women’s economic empowerment

By Charleine MBUYI LUSAMBA, Task Manager & Hoda Tarek, Gender and Development Expert On 21 October 2022, the African Development Bank and the Mano River Union Secretariat hosted an event to launch the Project to Build Inclusive Business Ecosystems for Stabilization and Transformation in the Mano River Union (BI-BEST) in Freetown,…