January 2020 the administration of President George M. Weah will clock two years in office but there has been some economic hiccups ranging from rising inflation , corruption, access to health care amongst others.
To stabilize the situation, the George Weah government is engaging partners like the World Bank to tackle the economic situation and desires growth and development in his country.
President Weah appearing so excited to engage his partner the Word Bank, Sunday chaired the Liberian government first ever cabinet and world Bank Groop’s interactive meeting focusing on “Maximizing World Bank Support to Liberia”.
At the meeting, World Bank’s Country Manager, Khwima Nthara, drilled the gathering on how the World Bank works, including allocating resources to countries, identifying projects, and approving processes and implementation arrangements.
According to release, both the Government of Liberia and World Bank authorities fashioned a new roadmap on cooperation and coordination in handling future projects and official engagement between them.
Recently the World Bank projected that Liberia’s economy is likely to contract by 1.4% in 2019, following the modest growth of 1.2% in 2018. Inflation reached 31.3% by August 2019, up from 26.1% the previous year.
The non-mining sector, the Bank said is expected to contract by 3.4 per-cent in 2019, on the back of contraction in services and manufacturing and weak performance in agriculture, while mining sector is expected to grow by 7.8% due to increased production of gold and ore.
At the meeting held Sunday in Monrovia , Liberian President George Weah underscored his administration’s full preparedness to forge continued win-win partnership with all international stakeholders.
President Weah the release noted, reiterated Liberia’s preparedness to work with World Bank and all international partners and investors, adding, “My government is here and ready to work with you”.
The President promised his administration’s unwavering commitment to ensuring the full implementation of any World Bank project in Liberia. wasting no time President Weah craves the World Bank support to his government development agenda, especially projects that are transformative with direct positive impact on the lives of the ordinary people.
The Liberian leader wants the world Bank to focus on agriculture, roads, education, energy and health projects as the centerpiece of his administration drive to lift Liberians out of poverty.
Meanwhile, the Liberian government put into place its Pro-Poor Agenda for Prosperity and Development (PAPD) at the latter part of the first year in office.
The PAPD is guided by four pillars focusing on empowering Liberians through education, health, youth development and social protection, enabling private sector-led economic growth, supporting a peaceful society, and creating an inclusive and accountable public sector.
Also making an opening remark was Mr. Pierre Laporte, World Bank’s Country Director, who pledged the World Bank’s continuous support to Liberia.