Speaker Chambers, AfDB Executives Rap Over Liberia’s Development And The Bank Cooperation; Wants Opportunity for Africa to Borrow More Money
House Speaker Bhofal Chambers Tuesday, 21 March received Six (6) Executive Directors of the African Development Bank (AfDB) Group who are currently on a consultation mission to Liberia.
The consultation mission, which is part of the annual work program of the Executive Directors, is aimed at visiting selected regional member countries of the Bank Group.
The AfDB delegation exchanged views with the Speaker of the House of Representatives on issues related to the Country’s development trajectory as well as the Bank’s cooperation with Liberia, Speaker Chambers was quick to express unhappiness over how Africa is treated.
According to the speaker Africa is the richest continent but has not been allowed to borrow as much as compared to other European Countries to carry out development.
He wants Liberia to benefit more from the Continental Bank, especially in the infrastructure area.
For their part, the delegation said the Bank’s current priorities for Liberia are guided by the Country Strategy Paper (CSP) covering the period 2019-2023.
The CSP is anchored on two re-enforcing priority areas: (i) Economic diversification through improved transport and energy infrastructure; and (ii) Improving economic governance and enhancing private sector development.
The CSP is informed by the Government’s development strategy, the “Pro-Poor Agenda for Prosperity and Development (PAPD 2018-23)” that has prioritized infrastructure development and job creation.
Liberia was instrumental in the creation of the African Development Bank and is also a founding member of the Bank as its vision bearer when the late Dr Romeo A. Horton crafted the vision for the formation of the Bank. Having joined in 1964, the Bank remains one of Liberia’s key development partners.
Accordingly, the delegation mentioned that the Bank’s current portfolio in Liberia comprises 14 ongoing and recently approved operations with cumulative commitments amounting to USD 376.96 million, dominated by road transport and energy infrastructure and remains committed to the partnership.
Since it started development activities in Liberia in 1968, the African Development Bank’s assistance has helped to respond to some of the key drivers of fragility, including weak state institutions and human capital, inadequate basic social services and infrastructure, food and nutrition insecurity, limited good governance and accountability, and slow economic revival.
At the AfDB, Liberia is administered within the same Constituency as The Gambia, Ghana Sierra Leone and Sudan. The Constituency is currently represented at the AfDB Board by Executive Director, Mr Rufus N. Darkortey of Liberia, who will be part of the mission.
