President Joseph Boakai has inserted the energy sector in the heart of his economic programs, telling western lender it will play pivotal role in driving Liberia’s socio-economic development.
On the heels of the launch of the country’s $8.4 billion national development agenda(ARREST), the President told visiting World Bank officials that a robust and reliable energy infrastructure is essential for sustainable growth and that his administration is committed to enhancing this sector for the benefit of future generations.
“Without a vibrant energy sector, no nation can achieve sustainable development,” President Boakai said, affirming his administration’s focus on energy as a cornerstone of economic revitalization.
According to a statement shared by presidency, Boakai said his government will collaborate with international partners, including the World Bank, to implement strategic measures aimed at repositioning Liberia’s energy landscape.
Liberia is endowed with significant hydroelectric potential, particularly from its river systems. Currently, the country’s total installed electricity generation capacity is a mere 200 megawatts, with only about 10% of the population having access to reliable electricity.
The $3 billion West African nation economy with 5.5 million people has set a goal of providing access to energy for 35% of the population outside Monrovia by 2030.
The Boakai’s administration plans to quadruple hydroelectric generation capacity by harnessing the potential of the St. John River, Liberia’s second-largest river. This ambitious plan involves building multiple dam facilities that are projected to generate an estimated 300 megawatts of electricity, fundamentally transforming the energy supply landscape for both urban and rural areas.
World Bank officials, led by Mr. Ousmane Diagana, Vice President for Western and Central Africa, expressed strong support for Liberia’s devlopment initiatives.
Mr. Diagana announced the upcoming launch of a new Country Partnership Framework aimed at enhancing private sector growth and sustainable development, which will work in tandem with the Government of Liberia’s efforts to bolster the energy sector.
The administration’s Agriculture Roads Rule of Law Education Sanitation & Tourism (ARREST) Agenda will provide a foundational platform for implementing World Bank programs across various sectors in Liberia, the Bank officials said.
The delegation reassured President Boakai of their commitment to assist the administration in advancing transformative initiatives designed to uplift the lives of Liberians.
