The report comes amidst the arrival of the president of the AfDB Dr. Donald Kaberuka in Monrovia today for a two-day official visit.
This paper has also reliably learnt that Dr. Kaberuka will make a major AfDB policy statement on the Fish Town-Harper Road funded 100% by the Bank.
According to a statement issued by the Ministry of Finance yesterday, the AfDB president is expected to sign the US$4.6 million institutional support grant with Liberia for the Integrated Public Financial Management reform project.
The Ministry of Finance said Mr. Donald Kaberuka will sign the agreement on behalf of the Bank while Liberia’s Minister of Finance Amara Konneh will sign for the Government of Liberia.
The signing ceremony will take place at the Ministry of Finance on Wednesday, September 19. Finance Minister Konneh will represent Liberia on the Board of the AfDB as Governor.
While in the country, the AfDB President will meet with major Liberian stakeholders, including President Ellen Johnson Sirleaf, Finance Minister Amara Konneh and members of the National Legislature. He is also expected to hold meetings with the donor partners.
The African Development Bank was established in 1964 and is so far the biggest consolidated bank in Africa and has co-founded projects in many Africa countries mostly low income economies and post-conflict economies including Liberia.
At current, the AfDB supports the Government of Liberia in many projects including water and sanitation, governance, agriculture and rural development, private banking, social infrastructure (Fish Town-Harper Road) and finance most of which will be completed by the end of this September. The Bank has spent over US$165 million in over the last six years.
Among some of the bank’s aids (grant supports) to Liberia include a more than US$5 million support to the banking sector, US $45.53M to the Economic Governance and Competitiveness Support Program, US$5.87 million for Capacity Building purposes in the various Ministries and Public Agencies of Government.The agriculture sector rehabilitation project received the amount of US$9.86 million while the Smallholder Agriculture Productivity Enhancement and Commercialization received US$51.27 million.