The World Bank Country Director for Liberia, Ghana and Sierra Leone, Dr. Henry Kerali, has disclosed plans by the World Bank Group (WBG) to assist Liberia with US$70 million annually.
Making the disclosure at the World Bank Group Office in the Monrovia suburb of Congo Town during the official launch of the Country Partnership Framework (CPF) at the weekend, Dr Kerali stated that the US$70m will be given to Liberia annually for the next five to seven years.
He explained that 50% of the US$70 million is a grant, while 50% is a loan.
For his part, Finance and Development Planning Minister Samuel Tweah lauded the WBG for their numerous support to Liberia.
Tweah also reaffirmed the commitment of the George Weah government to develop the country’s human resource thru capacity building and to improve road infrastructure.
The WGB consists of five organizations including the International Bank for Reconstruction and Development (IBRD), International Development Association (IDA), International Finance Corporation (IFC), Multilateral Investment Guarantee Agency (MIGA), and International Centre for Settlement of Investment Disputes (ICSID).
The WGB has 189 member countries, staffs from more than 170 countries and offices in more than 130 locations.
The WGB is a unique global partnership working for sustainable solutions that reduce poverty and build shared prosperity in developing countries.