AfDB grants $4.6m to aid reforms in Liberia’s public financial management

The African Development Bank (AfDB) and the Liberian government  have signed a $4.6-million grant agreement to support the country’s Integrated Public Financial Management Reform Programme.

An AfDB statement said the agreement was signed Tuesday September 18, 2012 in Monrovia by the Bank’s Resident Representative, Margaret Hilda Kilo, and Liberia’s Finance Minister Amara Konneh, in the presence of AfDB Group President, Donald Kaberuka.

According to the Bank, the grant which is a Fragile States Facility, is designed to strengthen government public financial management capacity, improve the capacity of accountability and integrity of institutions, increase the quality and effectiveness of internal and external audit, and expand revenue mobilization and administration capacity.

They also believe the funds will strengthen the capacity of key institutions involved in public finance management including the Ministry of Finance, the General Auditing Commission, ministries and agencies, state-owned enterprises, the Legislature/Legislative Budget Office and non-state actors.

“The Bank is also expressing its trust in Liberia’s commitment to improve public financial management and supporting country-led PFM reforms and capacity-building programmes,” Margaret Hilda Kilo said.

The programme is supported by the AfDB, the World Bank, USAID, and the Swedish International Development Cooperation Agency (SIDA) to the tune of $28.55 million.

By Ekow Quandzie