MONROVIA, JULY 28, 2020: The Board of Directors of the African Development Bank has approved US$14 million for Liberia as part of multi-country COVID-19 response support. The money, the AfDB says, is direct budget support to help bolster efforts being made to fight the pandemic.
Two other regional countries will also benefit from the Bank’s latest grant support. The Gambia, Liberia, and Sierra Leone represent the so-called GLS countries that share similar challenges relating to fragility, microeconomic stability, competitiveness, and growth, the AfDB’s release 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 said the business community and targeted small and medium-sized 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 said despite the shock to the economy from CovID-19, President George M. Weah is dedicated to mitigating the adverse impact on the Liberian people.
(Without Input from MICAT)