AfDB Board Approves Liberia Country Strategy Paper 2013-2017
TUNIS, Tunisia, July 10, 2013/African Press Organization (APO)/ -- The AfDB Board of Directors (http://www.afdb.org) on Wednesday, 10 July 2013 in Tunis approved a five-year Country Strategy Paper (CSP) for Liberia for the period 2013-2017. The CSP coincides with the Government's 2012-2017 Agenda for Transformation.
In approving the CSP, the Board reviewed the Bank's role in post-conflict recovery and Liberia's relative economic growth with the support of the institution's Fragile State Facility. The Board placed the new CSP within the context of continuing risks of state fragility, enhanced regional dimension particularly under the Mano River Union as well as the need for investment selectivity and capacity building.
The new CSP for Liberia is guided by two strategic pillars: i) Promoting economic growth through transformative infrastructure investments which will address the huge infrastructure deficit focusing on energy and road infrastructure to promote a competitive private sector; increased agricultural production and market access, employment creation across age and gender thus improving the welfare and public service delivery; ii) Enhancing governance and the efficient management of resources through budget and institutional support reforms aimed at improving the capacity of the Government, private sector and civil society to manage resources effectively and transparently.
Discussing the important role the Liberia Field Office will play in the implementation of the CSP, the Resident Representative, Margret Kilo said that capacity building will form a major component of every Bank Group intervention with a view to providing competitiveness stimulus to the economy through selective development of the country's economic infrastructure.
According to Mrs. Kilo, the CSP will ensure increased project supervision, portfolio reviews and workshops, dialogue with the Government, aid coordination and leveraging of the Bank's limited resources through co-financing with other development partners.
Distributed by the African Press Organization on behalf of the African Development Bank (AfDB).