World Bank MD in Liberia to Review Liberia’s Political and Economic Issues

By Peterking Quaye in Monrovia – World Bank (WB), Dr. Sri Mulyani Indrawati, Managing Director has arrived in Liberia to begin a two-day official visit today.

Dr Sri Mulyani

Dr Sri Mulyani

While in the country, Dr. Indrawati will review Liberia’s political economy issues, portfolio performance, development, infrastructure and post-conflict challenges, including World Bank support to the country, a statement issued by the Bank has said.

She will also meet and hold discussions with President Ellen Johnson Sirleaf, members of the Liberian Legislature, Finance Minister Amara Konneh, other senior officials of the Liberian Government, and private sector representatives.

More recently, as part of the Joint Country Assistance Strategy (JCAS) period (FY09-11), the Bank was able to mobilize significantly higher levels of financing, from both the International Development Association (IDA) and trust funds, than anticipated in the original lending strategy. The total original Bank financing package for the JCAS was estimated at US$284.8 million. However, to date, it has reached an estimated total of US$528.7 million, the Bank’s statement said.

Most of this supported financing for the implementation of the JCAS FY09-11, which supported the priorities of the Poverty Reduction Strategy (PRS) (I), and focused on: (i) rebuilding core state functions and institutions; (ii) rehabilitating infrastructure to jump-start economic growth; and (iii) facilitating pro-poor growth in addition to pursuing cross-cutting objectives of capacity development, gender and the environment.

According to the statement, there are about ten active projects in the Liberian portfolio supporting developmental activities in the country. A total of 12 IDA – financed projects were approved by the World Bank’s Board of Executive Directors for a total of US$248.1 million.

As Liberia continues to strengthen economic governance and embark upon a review of its economic agenda, it is hoped that the visit of such high-level WB official will help to further strengthen Liberia – World Bank partnership for the benefit of the people of the country.

Dr. Indrawati, is responsible for the Bank’s operations in Africa, East Asia & the Pacific, Europe & Central Asia, Latin America & the Caribbean, the Middle East & North Africa and South Asia. She joined the World Bank in June 2010. It may be recalled that Liberia became member of the World Bank in March, 1962. The Bank has since given the government and people of this country close to one billion dollars.

Since joining the World Bank in 2010, Dr. Sri Mulyani also oversees other administrative vice-presidencies and functions, including the integrity vice presidency, sanctions board secretariat and the office of evaluation and suspension.