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A high-powered Liberian government delegation, coordinated by Finance and Development Planning Minister Augustine Kpehe Ngafuan, on Wednesday held what was described as productive discussions with a World Bank delegation on the margins of the Tokyo International Conference on African Development (TICAD).
The meeting, led on the World Bank side by Mr. Maktar Diop, Managing Director of the International Finance Corporation (IFC), focused on scaling up support for private sector investment in Liberia and accelerating implementation of the Bank’s existing projects in the country.
The World Bank delegation also included Mr. Ethiopis Tafara, IFC’s Regional Vice President for Africa, and Mr. Ousmane Diagana, World Bank Regional Vice President for Africa, along with other senior executives.
On the Liberian side, the delegation featured senior cabinet officials and heads of key agencies, including Foreign Minister Sara Beysolow Nyanti, Education Minister Dr. Jarso Jallah, National Investment Commission Chairman Jeff Blibo, Commerce Minister Magdalene Dagoseh, Agriculture Minister Dr. J. Alexander Nuetah, Mines & Energy Minister Wilmot J. Paye, and National Port Authority Managing Director Sekou Hussein Dukuly.
Discussions centered on the IFC’s plans to increase its support to private sector-driven development in Liberia, with specific attention to energy, agriculture, tourism, financial services, and other critical growth sectors. Officials said the IFC is considering equity participation in several Liberian ventures as part of a broader push to stimulate sustainable growth.
“Liberia is open for business, and the private sector will be a central driver of our growth agenda,” Finance Minister Ngafuan told the gathering. “Partnership with the IFC is crucial to unlocking investments in energy, agriculture, and tourism that will create jobs and improve livelihoods across the country.”
Mr. Diop, for his part, reaffirmed the IFC’s commitment to supporting Liberia’s transition toward a more diversified and resilient economy. “The IFC sees great potential in Liberia’s private sector,” he said. “We want to work with government and local entrepreneurs to expand access to finance, strengthen infrastructure, and create the conditions for long-term economic growth.”
The talks also reviewed the World Bank’s current portfolio in Liberia, with net commitments now totaling nearly US$1 billion. Projects cover a wide range of sectors including infrastructure, health, education, and governance.
Both sides acknowledged progress in disbursements to ongoing projects, attributing it to increased delivery by the Liberian government. However, they stressed the need to further accelerate implementation in order to unlock additional World Bank support for President Joseph Boakai’s ARRREST Agenda — the government’s flagship development framework focusing on Agriculture, Roads, Rule of Law, Education, Sanitation, and Tourism.
“Liberia has one of the fastest-growing World Bank portfolios in West Africa,” said Regional Vice President Ousmane Diagana. “But the speed of implementation is key. The more the government accelerates delivery, the more we can expand our support.”
Foreign Minister Sara Beysolow Nyanti emphasized the importance of aligning Liberia’s development goals with donor support. “Partnerships like this are essential for ensuring that Liberia’s priorities — particularly the ARRREST Agenda — are fully funded and implemented in a way that transforms lives,” she said.
The meeting concluded with commitments on both sides to establish follow-up mechanisms that will monitor progress on implementation and identify priority projects for IFC investment.
Minister Ngafuan described the discussions as “a major step toward strengthening Liberia’s ties with the World Bank and IFC” and pledged the government’s commitment to improving delivery on its projects.
“Liberia’s development depends on how well we can execute,” Ngafuan said. “Our message to the World Bank is simple: we are ready to deliver, and with your partnership, we will succeed.
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