The Board of Directors of the African Development Bank (AfDB) has approved U.S$14 million for Liberia as part of a multi-country COVID-19 response support.
The money, according AfDB, is a direct budget support to help bolster the efforts being made by the Government of Liberia in the fight against the coronavirus pandemic.
Accordingly, two other regional countries will also benefit from the bank’s latest grant support; with The Gambia, Liberia and Sierra Leone representing the so-called GLS countries that share similar challenges relating to fragility, microeconomic stability, competitiveness and growth, the AfDB release said.
AfDB said the money is expected “to be cushioned” against the effects of the pandemic, while financing vulnerable female-headed households and school-going children.
The bank also stated that the business community and targeted small and medium-size enterprises are also part of the expected beneficiaries.
Finance and Development Planning Minister Samuel D Tweah thanked the AfDB for the support, saying that it demonstrates confidence in Liberia’s fiscal prudence.
He assured Liberians that despite the shock to the economy from COVID-19, President George Manneh Weah is dedicated to mitigating the adverse impact of the virus on the Liberian people.