Reference: World Bank Group By Michael Nyumah Sahr WASHINGTON, March 12, 2021 – Liberia’s efforts to transform the lives of poor people have received a huge boost with financing approved today by the World Bank. Two new operations will increase access to sustainable,... Reference: World Bank Group
By Michael Nyumah Sahr WASHINGTON, March 12, 2021 – Liberia’s efforts to transform the lives of poor people have received a huge boost with financing approved today by the World Bank. Two new operations will increase access to sustainable, reliable and affordable energy, and boost economic recovery by providing employment opportunities and business skills training to vulnerable Liberians. Funded by the International Development Association (IDA), these projects aims at improving Liberia’s economy and helping to build resilience for vulnerable households that are greatly at risk of falling into poverty due to the impact of the COVID-19 pandemic. Poverty remains widespread in Liberia and is now on the rise. An estimated 44% of Liberians were living with less than $2 a day in 2016 and is now projected to reach 52% in 2021. Access to healthcare, education, and basic utilities like energy, are also particularly low compared to the rest of the region. “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,” said Khwima Nthara, World Bank Country Manager in Liberia. Reference: https://www.worldbank.org/en/news/press-release/2021/03/12/liberia-to-power-its-economy-through-improved-energy-access-and-job-creation
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