The primary topics of discussion encompassed infrastructure development, private sector growth driven by small and medium-sized enterprises, strengthening domestic resource mobilization, and enhancing agricultural productivity.
African Development Bank Executive Director Rufus N. Darkortey recently completed a five-day working visit to Liberia, where he engaged in high-level discussions with key stakeholders, including President Joseph Nyuma Boakai.
Representing Liberia, The Gambia, Ghana, Sudan, and Sierra Leone at the Bank, Darkortey also met with Vice President Jeremiah Kpan Koung, Speaker of Parliament Jonathan Fonati Koffa, as well as various ministers and agency heads.
During the July 8-12 mission, Darkortey's primary focus was to align the Bank's support with Liberia's development priorities, particularly in promoting sustainable and inclusive growth.
President Boakai praised the African Development Bank Group, led by Dr. Akinwumi Adesina, for its substantial assistance and expressed commitment to implementing necessary reforms to expedite development in the West African nation. Discussions centered on infrastructure development, SME-led private sector growth, enhancing domestic resource mobilization, and improving agricultural productivity.
Darkortey emphasized the Bank's current investment portfolio in Liberia, with a majority of funds allocated to the transport sector, followed by energy and agriculture. Noteworthy projects include the Fish Town-Harper highway and a cross-border high-voltage transmission line linking Liberia with Cote d’Ivoire, Sierra Leone, and Guinea.
The Executive Director reiterated the Bank's dedication to fostering Liberia's development under the leadership of President Boakai, who took office in January 2024. The discussions also highlighted the Bank's initiative for Youth Entrepreneurship Investment Bank. In 2023, the Bank allocated approximately $16 million to assist over 30,000 youth-led micro, small, and medium enterprises within Liberia's growing agribusiness and related sectors.
During the Bank's 2024 Annual Meetings held in Nairobi, Kenya, in May, Adesina unveiled plans to raise between $3.5 billion and $5 billion for the Liberty corridor project, which aims to establish a state-of-the-art rail system linking Liberia’s deepwater Didia port to Guinea. This initiative is in line with President Boakai's ARREST Agenda, a comprehensive national development strategy that emphasizes agriculture, infrastructure, rule of law, education, sanitation, and tourism to foster inclusive growth.
The African Development Bank has consistently supported not only Liberia but also the Mano River Union, which is regarded as a vital pathway for enhancing the region's agricultural capabilities, generating employment opportunities for the youth, and addressing issues of fragility.