- World Bank approves funding for improved energy access
- Project to be funded by IDA
The World Bank has approved funding to Liberia for two new operations aimed at improving access to energy and to boost economic recovery. The funding will be provided by the International Development Agency (IDA).
With an estimated 52% of Liberians projected to live on less than $2 per day, access to energy, healthcare, etc., has become a major challenge for the West African country. The World Bank Country Director Liberia Khwima Nthara said, “Given the devastating impact of Covid-19 on the economy and people’s livelihoods, improved energy access will stimulate inclusive economic growth while support to the informal sector will help the most vulnerable Liberians to recover from the loss in incomes”.
Liberia is one of the worst-hit countries suffering the effects of the COVID19 pandemic, with reported food shortages and poverty on the increase.