2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Liberia

Abstract

2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Liberia

Relations with the Fund

(As of April 19, 2018)

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Latest Financial Arrangements:

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Formerly PRGF.

Projected Payments to Fund

(SDR Million; based on existing use of resources and present holdings of SDRs):

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Implementation of Catastrophe Containment and Relief (CCR):

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Safeguards Assessment

While key outstanding safeguards recommendations are included in the CBL’s Action Plan and some progress in its implementation has been noted, the lack of a fully constituted Board presents a new risk. The action plan incorporates recommendations on the audit arrangements and legal amendments. An external audit of the CBL’s foreign reserves for the six months, ending in December 2017, was conducted by an external audit firm without any major findings. However, the CBL is still working with staff on a suitable template to provide the required level of transparency for the monthly reports on foreign exchange holdings. The central bank established a task force to revise the CBL Act in line with staff’s recommendations. The task force is reviewing the findings of a Fund TA mission and submission of amendments to Legislature is expected by end-June 2018. Stronger audit committee oversight is needed to address the findings of the external quality review of internal audit and to ensure implementation of the capacity development plan. Separately, the appointment of permanent non-executives to the Board to ensure a quorum should be expedited so that regular oversight on controls and operations can be resumed.

Exchange Rate Arrangement

The currency of Liberia is the Liberian dollar. The U.S. dollar is also legal tender. The de jure exchange rate regime classification is ‘managed floating’. The Central Bank of Liberia (CBL) intervenes in the foreign exchange market to smooth volatility. The exchange rate between the Liberian dollar and United States dollar at April 16, 2018 was L$130.4=US$1 (mid-point between buying and selling rates). The de facto exchange rate regime is classified as ‘other managed arrangement’ since November 2011 when the exchange rate departed from the stabilized 2 percent band against the U.S. dollar. Liberia maintains an exchange rate system that is free of restrictions on payments for current transfers.

Article IV Consultation

The 2016 Article IV consultation was concluded on July 8, 2016. It is recommended that the next Article IV consultation take place on the standard 12-month cycle.

Technical Assistance 2014–18

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Resident Representative

A resident representative has been posted in Monrovia since April 2, 2006. Currently Mr. Oestreicher is in this role since August 1, 2017.

Joint World Bank-IMF Work Program, 2012–18

(As of April 10, 2018)

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Relations with the World Bank Group1

(As of April, 2018)

A. Bank Group Strategy

1. The current Country Partnership Strategy (CPS) for Liberia was discussed by the Board of the World Bank Group on July 30, 2013. The overarching objective of the CPS (2013–17) was to support the Government’s Agenda for Transformation (AfT) to contribute to sustained growth, poverty reduction and shared prosperity while exiting fragility and building resilience. In this regard, the CPS pillars are aligned with three key pillars of the AfT: (i) Economic Transformation to reduce constraints to rapid, broad-based and sustained economic growth to create employment; (ii) Human Development to increase access and quality of basic social services and reduce vulnerability; and (iii) Governance and Public Sector Institutions to improve public sector and natural resources governance. In addition, the CPS is focused on the themes of capacity development and gender equity both of which will be mainstreamed throughout the Bank Group’s portfolio.

2. The World Bank Group’s program under the CPS involves a combination of development policy financing, investment financing and analytical work in support of the strategic pillars. The IDA allocation for the lending program for the CPS period is approximately US$308 million, including IDA 16 (up to June 2014) and the full IDA 17 allocation. Most the IDA financing during the CPS period is focused on investment in the energy and transport sectors to help remove binding constraints to growth and improve well-being. IDA financing under the CPS also support building institutional and human capacity essential for the effective implementation of the AfT and the country’s long-term vision plan.

3. The International Finance Corporation (IFC) investment over the CPS period is expected to average US$25 million per year. The current IFC portfolio comprises US$5.4 million in equity; US$19 million credit and trade lines; US$13 million seed investment in the West Africa Venture Fund for direct on-lending to, or equity in SMEs (US$6.8 million allocated for Liberia and balance for Sierra Leone) and US$33.5 million debt financing approved and committed to the rubber and cocoa sectors. The priority sectors for IFC’s investments include agribusiness, infrastructure including power, financial services and mining. IFC’s advisory service will include strategic engagement in investment climate improvement, leasing, finance services infrastructure and private sector development.

4. In response to the Ebola Virus Disease (EVD) outbreak, the World Bank Group has provided extraordinary support to Liberia, well beyond the scope of the CPS and significantly above the IDA Performance Based Allocation, including commitment of some US$197 million equivalent from the IDA Crisis Response Window (CRW). In the wake of the Ebola crisis, the World Bank Group has undertaken a rapid review of its strategy and portfolio to ensure they remain aligned with the country’s development needs. The augmented support aimed to contain the spread of Ebola infections, assist communities to cope with the economic impact of the crisis, and rebuild and strengthen essential public health systems and service delivery platforms in the region.

5. The World Bank continued its support to Liberia, when its economy—already weakened by the adverse impact of the Ebola crisis—has been hard hit by severe exogenous shocks from the sustained slump in global commodity prices and the UNMIL withdrawal. The World Bank support to mitigate the fiscal and poverty impact of the twin shocks included the following: (i) the augmentation of the PRSDPO-II from US$10 million credit equivalent to US$20 million equivalent, including US$10 million equivalent of grants from the IDA CRW to help mitigate the ongoing effects of the Ebola epidemic;2 (ii) the supplemental financing to PRSDPO-II amounting to US$5 million equivalent on grants from the Ebola Recovery and Reconstruction Trust Fund (ERRTF);3 (iii) the augmentation of PRSDPO-III from US$10 million grant equivalent to US$39.1 million equivalent of grants, including US$8 million from the IDA CRW;4 (iv) a supplemental financing to PRSDPO-III amounting to US$16.3 million equivalent, consisting of US$10.8 million of grants, including US$4.3 million in grants from Liberia Forest Landscape Single Donor Trust Fund,5 and US$5.5 million equivalent of IDA credit;6 and (v) the PRSDPO-IV amounting to US$24.67 million equivalent, consisting of US$20 million equivalent of IDA grants and US$4.67 million in grants from the Liberia Forest Landscape Single Donor Trust Fund.7

6. The World Bank has started the preparation of a Systematic Country Diagnostic (SCD) for Liberia in October 2016. The SCD identifies a set of priorities through which a country may most effectively and sustainably achieve the poverty reduction and shared prosperity goals. The SCD has been finalized and expected to be approved by the Board in June 2018. The SCD serves as the reference point for new Country Partnership Framework (CPF) for FY18–22, which is expected to be presented to the Bank Board in early FY19.

B. Active Projects

7. There are currently twenty-one active projects in Liberia, including four regional projects, with a total net commitment of approximately US$938.8 million equivalent, of which approximately US$426 million is undisbursed. These projects are financed by IDA and other trust funds, and in the majority of cases financed by both types of financing. Twelve new projects were approved in between FY2016 and FY2018 for a total net commitment of approximately US$162 million. These twelve projects are summarized below. Within this envelope and during the FY16-18 period, non-IDA trust-funded projects were approved in the areas of forestry, MSMEs rural finance, health, and urban sanitation. As such for Liberia, non-IDA resources play a critical role in advancing the Liberia portfolio.

8. The Liberia Youth Opportunities Project was approved in November 2015 for US$10 million. The objective is to improve access to income generation opportunities for targeted youth, and strengthen the government’s capacity to implement its cash transfer program. The project has four components including (1) a pre-employment social support and household enterprises for urban youth; (2) productive public works and life skills support; (3) capacity and systems building for cash transfers; and (4) project implementation and coordination. Through these components YOP will seek to cultivate youth skills needed for broad-based and inclusive growth in Liberia’s priority sectors benefiting 15,000 youth.

9. The Liberia Renewable Energy Access Project was approved in January 2016 and has a net commitment of US$27 million, including US$25 million from the Strategic Climate Fund. The objective of the project is to increase access to electricity and to foster the use of renewable energy sources. The project has three main components. The first component—the largest—supports the expansion of access to reliable electricity to about 9,000 new users in an economic and agricultural in the North-Western part of Liberia, one of the hardest hit during the Ebola crisis. The second component provides technical assistance to support the government’s program to expand decentralized electrification and foster the use of renewable energy. The third component supports the development of a national market for solar-powered systems that could help provide access to modern energy services to more than 100,000 people.

10. The Liberia Urban Water Supply Project was approved in March 2016 and has a net commitment of US$10 million. The project development objectives are to increase access to piped water supply services in the project area in Monrovia and improve the operational efficiency of Liberia Water and Sewer Corporation (LWSC). The project has two components: (a) infrastructure improvements in Monrovia including targeted repairs and rehabilitations of the existing distribution network and extension of the distribution network to new areas and customers; and (b) capacity building for the LWSC, including the development of improved project management and monitoring and evaluation arrangements.

11. The Liberia Social Safety Net Project was approved in April 2016 and has a net commitment of US$10 million. The project development objective is to establish the key building blocks of a basic national safety net delivery system and provide income support to households who are both extremely poor and food insecure in the Republic of Liberia. The project consists of the following three components: (i) Strengthening of the National Social Safety Net System. This component supports the development of an information system for the delivery of social assistance, data collection and household registration and an eligibility screening mechanism to assess the poverty and food insecurity conditions of households; (ii) Cash Transfers to Extremely Poor and Food Insecure Households. This component covers the provision of income support to about 10,000 extremely poor and food insecure households through regular cash transfers; and (iii) Project Management and Capacity Building, covering capacity building of the Ministry of Gender, Children and Social Protection to implement the project and strengthening coordination at the national and subnational levels.

12. The Liberia Forest Sector Project was approved in April 2016 and has a net commitment of US$36.7 million. Its objective is improved management of, and increased benefit-sharing in, targeted forest landscapes. The Project pursues an integrated approach to the development of the forestry sector aligned to the “Three C’s”. The Project provides for (i) institutional capacity building of the Forestry Development Authority (FDA) and other key institutions involved in forest management; (ii) empowerment of communities in ownership and management of forests for income generation through both production and conservation; (iii) support to Liberia’s aspiration to protect its forests; (iv) investments in forest and tree crops based production and enterprises for rural livelihoods; and (v) increasing the forest cover through reforestation of degraded lands.

13. The MSME and Rural Finance Post-Ebola Project was approved in May 2016 and has a net commitment of US$4.8 million. The objective of the project is to enhance the capacity of local private sector financial institutions to lend profitably to MSMEs. This would comprise three subcomponents to support on-lending to micro and small entrepreneurs: (a) Provide line of credit to viable MSMEs; (b) Risk-sharing Instruments through the establishment of partial credit guaranty scheme, default risk to be shared 50/50 with participating banks for loans to MSMEs falling within agreed criteria; and (c) assistance to participating financial institutions to improve the quality of lending by providing expertise in design and operation of credit and risk sharing operations, loan supervision, credit screening, cash-flow modeling, etc.

14. The Strengthening Liberia Health Systems Project was approved in June 2016 and has a net commitment of US$4.9 million. The objective is to improve maternal and neonatal health services through strengthening (1) the learning environment at the medical school; and (2) strengthen health facilities and community services in targeted health facilities. This project complements an earlier project approved in 2013 for US$31 million that focused on strengthening primary and secondary health services.

15. The West Africa Regional Fisheries Program-Additional Financing project for Liberia was approved in September 2016 and has a net commitment of US$1.0 million. The objectives of the project are (i) to improve unloading facilities for industrial fishing vessels, space for the development of a fish processing unit, and a pier for loading exported fisheries products by completing the Mesurado Complex; (ii) support the Integration of the Mesurado-Robertsport Cluster, through the design and setting-up of a public private partnership model and preparation of Robertsport’s facilities management contracts; and (iii) support selected coastal communities with facilities for handling, processing and storing of fisheries products and to enable a better logistics and value-chain integration between the Robertsport and the Mesurado fishery port complex, through upgrading and expanding the related equipment, including a cold storage and electrical power capacity in Robertsport.

16. Regional Disease Surveillance Systems Enhancement (REDISSE) Phase II project was approved in March 2017 and has a net commitment of US$15 million. The objectives of the project are (i) to strengthen national and regional cross-sectoral capacity for collaborative disease surveillance and epidemic preparedness in West Africa, thereby addressing systemic weaknesses within the animal and human health systems that hinder effective disease surveillance and response; and (ii) in the event of an Eligible Emergency, to provide immediate and effective response to said Eligible Emergency. The REDISSE2 project offers an excellent opportunity to strengthen collaboration across the 15 ECOWAS countries and build regional disease surveillance and response capacity.

17. The Cheesemanburg Landfill and Urban Sanitation Project was approved in June 2017 and has a net commitment of US$10.5 million. The objective is to sustain waste management activities in Monrovia through the construction of a new landfill, proper waste collection and disposal, and build the capacity of the agencies that operate within the waste sector.

18. The Liberia Land Administration Project was approved in September 2017 and has a net commitment of US$7 million. The objective of the project is to strengthen the institutional capacity of the Liberia Land Authority (LLA) and establish a land administration system. The project comprises of four components. The first component is support to the LLA. The second component is support for inventory and analysis of tribal land certificates. The third component is development of a land administration system. The fourth component is project coordination, monitoring and evaluation.

19. The Liberia Fourth Poverty Reduction Support Development Policy Project was approved in January 2018 and has a net commitment of US$24.7 million. This includes US$4.7 million from the Liberia Forest Landscape Single Donor Trust Fund. The objectives are to (i) strengthen governance with particular emphasis on transparency and accountability, as well as budget execution and oversight; (ii) address key constraints to growth, including electricity; and (iii) improve human capital development particularly through improved access to education and health.

C. Advisory Services and Analytics

20. The World Bank has re engaged the government of Liberia in the implementation of BOOST as part of the open budget initiative. Specific objectives of the BOOST project are as follows: (i) link expenditure data in the current Chart of Accounts (CoA) to earlier Charts of Account and financial information systems, making analyzing historical spending across multiple classification easier; (ii) guide budget analysts and planners from both central and implementing agencies in how they can better analyze and interpret these data, including keeping the tool alive by demonstrating how new data can be added; and (iii) subject to GoL approval, improving the efficiency of resource use via greater external accountability, by uploading a version of the tool to an accessible website.

21. Financial Inclusion technical assistance project is a FIRST-funded program aimed at promoting financial inclusion. The specific objectives are (1a) developing an agent banking regulatory framework; (1b) enhancing the mobile money strategy and regulatory framework; and (1c) fostering payment systems’ development, regulations, and oversight; (2) enhancing the consumer protection framework; (3) bolstering consumers’ financial capability through the design of a financial education strategy, program, and media campaign; (4) strengthening the regulatory, supervisory, and governance framework for MFIs; and (5) supporting capacity building and implementation support for the operationalization of the FSDIP, including for the Financial Inclusion and Financial Infrastructure working groups.

22. The World Bank is providing technical assistance to Liberia Institute of Statistics and Geo-Information Systems (LISGIS), under a Multi-Donor Trust Fund (MDTF). The overall objective of the project (National Statistics Strengthening Project) is to support LISGIS in the production of key economic statistics, namely: (i) implementation of the Household Income and Expenditure Survey (HIES); (ii) compilation of benchmark estimates for Poverty indicators, Consumer Price Index, National Accounts; and (iii) Capacity building. The 2016 Household Income Expenditure Survey (HIES), was completed in February 2017. Since then, the survey data has been analyzed to ascertain the poverty profile of the country. The statistical abstract containing the broad findings of the HIES has been published. The dissemination of the HIES findings has been programmed for the period April–June 2018. Events comprising workshops and seminars are planned for both Monrovia and other counties in the country. Secondly, the CPI basket has been re-weighted using the 2014 HIES data and latest estimates will be included into the GDP calculations. Thirdly, LISGIS is working towards the rebasing of the country’s GDP. To this end the National Establishment Census (NEC) was successfully completed between July and September 2017. The team is currently launching the National Accounts Annual Survey (NAAS) to be conducted in 2018. The outputs of the NEC and NAAS will ultimately feed into the rebasing of the GDP.

23. The World Bank has completed the Public Expenditure Financial Accountability (PEFA) assessment in May 2016. The report shows that despite considerable IT-based modernization of PFM systems, PFM system performance has strengthened only slowly and has weakened in some areas. The establishment of a Treasury Single Account (TSA), an Integrated Financial Management Information System (IFMIS), the Standard Integrated Tax Administration System (SIGTAS), the Automated System for Customs Data Administration (ASYCUDA), and the Civil Service Management System (CSMS), alongside considerable amounts of Technical Assistance from development partners (DPs) together provided a solid basis for strengthening PFM performance. Human resource capacity constraints, power and connectivity problems, financial resource shortfalls, the impact of the Ebola Virus Disease (EVD), frequent in-year budget adjustments and insufficient compliance with expenditure commitment and other non-salary internal controls combined to slow the pace of reform and to reduce budget credibility.

D. Financial Relations

Active and Disbursing Projects (as of March 31, 2017–end of Q3 FY18)1

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IDA Disbursements and Debt Service (Since HIPC Completion Point)

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Relations with the African Development Bank1

(As of April, 2018)

There are 11 ongoing Bank Operations in Liberia, in addition to 4 projects funded by bi-lateral trust funds managed by the Bank. The portfolio has a total commitment of equivalent to US$348.21 million, of which about USD 99.29 million has been disbursed.

A summary of the on-going projects is provided below:

1. Integrated Public Financial Management Reform Project Phase 2 (IPFMRP - II): This is a USD 8.89 million AfDB funding to support the implementation of the Integrated Public Financial Management Reform Program (IPFMRP). The Bank had previously provided USD 4.26 million in 2012 to support Phase I of the Program which was completed on March 31, 2017.

The current project (IPFMRP - II) was approved on January 30, 2017 and will run for three years. The project is co-funded with the World Bank and the USAID. By using a pooled funding arrangement, the project continues to harmonize support with other donors, increasing development effectiveness while decreasing the administrative burden on the Government. The project has three components: (i) strengthening transparency and accountability in public financial management; (ii) enhancing domestic revenue mobilization from the natural resource sector; and (iii) project management. Activities will include: Upgrade of the Integrated Financial Management Information System (IFMIS) platform, strengthening the capacity of institutions in PFM, strengthening debt management, macroeconomic forecasting, financial reporting, and better domestic revenue mobilization.

2. Liberia–Urban Water Supply and Sanitation Project (UWSSP): This is a USD 37.01 million grant project to improve Monrovia and three other county capitals’ water and sanitation facilities. The project will: (i) provide access to adequate, safe and reliable water supply and public sanitation services in Monrovia, Buchanan, Kakata, and Zwedru; and (ii) enhance the institutional, operational, management capability, and the long-term financial viability of LWSC. The Project’s components are: (i) Rehabilitation and augmentation of water treatment and distribution systems; (ii) Provision of public sanitation facilities; (iii) Institutional support; (iv) Environmental and Sanitation Sensitization. The project has completed all activities in Zwderu, Kakata and Buchanan, and is currently at about 95% completion of the activities in Monrovia. The Project closes on 31 May 2018.

3. Smallholder Agricultural Productivity Enhancement and Commercialization (SAPEC) Project: This is a USD 54.02 million project jointly funded by the Bank and the Global Agriculture and Food Security Program (GAFSP). The intervention seeks to reduce rural poverty and household food insecurity by increasing income for smallholder farmers and rural entrepreneurs particularly women, youths and the physically-challenged. SAPEC is being implemented in 12 of the 15 counties of Liberia over 2014 to 2019. It seeks to scale-up the Agricultural Sector Rehabilitation Project (ASRP) which was funded with USD 17 million by the AfDB and was completed in 2017. The current project (SAPEC) consists of four components, namely: (i) Sustainable Crop Production Intensification; (ii) Value Addition and Marketing; (iii) Capacity Building and Institutional Strengthening; and (iv) Project Management. SAPEC undertook an e-registration of over 350,000 farmers and farm inputs suppliers in all the counties. The progress in implementation is currently estimated at about 48%, and the project is expected to close in 2019.

4. Equity investment of US$1.2 million in the share capital of Access Bank (ABL): Access Bank Liberia (ABL) is a microfinance bank sponsored in 2009/2010 by Access Microfinance Holding AG, with co-support by the International Finance Corporation (IFC) and the European Investment Bank (EIB). The Bank has supported Access Bank with total of US$1.2 million comprising a capital investment of US$0.91 million and US$0.31 million in technical assistance. The Project is undertaking closure activities until end March 2018 when it will close.

5. Paving Fish Town–Harper Road Project (Phase I): The objective of the Project is to provide efficient road transport access to South East Counties of Liberia and, by extension, to neighboring Mano River Union States. The project involves upgrading from gravel to bitumen standard the Fish Town–Harper Road (Phase 1): Harper–Karloken section (50 km) at an estimated cost of USD 61.11 million. The expected outcomes include: (a) improved socio-economic inclusion of population in south-east region; (b) attraction of investments with employment creation and stronger government presence; (c) facilitated cross-border trade in MRU member states; and (d) employment generation during construction and post construction phase. The Project is currently at about 38% progress and measures have been put in place to ensure that this is accelerated to be able to close the Project at the end of 2019.

6. Mano River Union (MRU) Road Development and Transport Facilitation Program (Phases 1 and additional financing): The MRU Road Development and Transport Facilitation program will upgrade to bitumen standard 276.35 km of roads in eastern Guinea, West and South-West Côte d’Ivoire, and eastern Liberia. The Program will be executed from June 2015 to June 2019 for an estimated net total cost of USD 315.20 million.

Liberia’s portion, covering Karloken-Fish Town (80 km) and Harper-Cavalla junction (16 km), is a USD 109.17 million loan from ADF and TSF. The project will also include the construction of joint border control posts. The Project is currently at 29% progress and will close in 2020.

7. Regional Electricity Interconnection Project: Cote d’Ivoire, Liberia, Sierra Leone and Guinea (CLSG). The CLSG electricity interconnection project will construct a 1,357-km-long double circuit high voltage (225 kV) line to connect the national networks of the four countries (Côte d’Ivoire, Liberia, Sierra Leone and Guinea (CLSG)). This line is part of the backbone of the Mano River Union countries and one of the priority projects of the West African Power Pool (WAPP) Master Plan. The project will help establish a dynamic electric power market in the West African sub-region and secure power supply for participating countries which have a comparative advantage in importing power rather than producing it domestically. The project, estimated at an overall cost of USD 331.51 million, will be implemented over the 2014–19 period. The contribution of the Bank Group amounts to USD 128.15 million (or 38.7 percent of the total cost). The project will raise the average electricity access rate in the four countries from 28 percent in 2012 to 33 percent by 2017. The increased electricity access will contribute to improving the welfare of the beneficiaries and lead to the development of social and income-generating activities. The Project is currently undertaking construction works, and closes in end 2019.

8. Rural Electrification (Under CLSG-RE): The Project will finance the construction of 151 km of 33kv distribution networks and about 550 substations along the TRANSCO-CLSG 225KV transmission line to electrify 130 small towns, villages and communities in Nimba, Bong, Grand Bassa, and Rivercess counties; extend connections to 8086 households and install 748 Street lights. The Project amount is USD 25.56 million. Implementation of the Project started in 2017 and currently completing the procurement of the engineering design firm. It is expected to be completed in 2020.

9. Liberia Energy Efficiency Access Project (LEEAP): LEEAP is a USD 44.56 million project aiming to increase access to electricity while promoting energy efficiency and strengthening the institutional capacity in the electricity sector. More specifically, the project will: (i) expand the electricity transmission and distribution network in Liberia; (ii) improve electricity accessibility of the communities in Pleebo to Fish Town in the River Gee County, and the Roberts International Airport (RIA) corridor); (iii) promote energy efficiency in the country; and (iii) improve the human and technical capacity of the energy sector by training skilled professionals (including engineers, technicians, maintenance and administrative personnel) from LEC, MLME, EPA and RREA.

The Project was ratified in August 2017 and implementation has only began after fulfilment of all the loan and grant conditions.

10. Trust Funded Projects

  1. Technical Assistance and Capacity Building Support to the Liberia Institute of Statistics and Geo-Information Services (TCB-LISGIS): This is a USD 0.710 million grant that has supported LISGIS to strengthen institutional and staff capacity, to conduct analysis, publish and disseminate results from various studies and surveys. The data was used to monitor the implementation of Liberia’s national development strategy-the Agenda for Transformation 2012–17. The Project has been under implementation since 2014 and is expected to close in March 2018.
  2. Youth Entrepreneurship and Employment Project (YEEP): This is a USD 2.3 million project which is aimed at improving entrepreneurial skills of the youth. The Project will contribute to building a competitive private sector in Liberia by strengthening the capacities of selected tertiary institutions that will design and deliver entrepreneurship and employment generation programs. The Project will close in June 2019.
  3. Program of Assistance to Trade Support Institutions in Liberia (PATSIL): This USD 0.936 million project focuses on human capacity building by improving the human resource capacity of key trade support institutions to analyze and enhance policy framework of the trade sector, formulate and implement trade policies, improve institutional productivity and performance of the Ministry of Commerce and Industry and National Ports Authority through provision of logistical support. The Project is currently recruiting technical assistance which will work to improve institutional productivity. The Project will close in 2019.
  4. The Development of Agriculture Value Chains: The Project has an amount of USD 0.174 million to support the Development of Agriculture Value Chains in Liberia in the Ministry of Agriculture under the Liberia Agriculture Transformation Agenda (LATA). The MoA embarked on a process of hiring technical assistance, which unfortunately stopped mid-way. The Bank will pick up discussions with the new Minister of Agriculture when appointed. The grant was approved in 2017 and is expected to end in 2019.

Statistical Issues

(As of April, 2018)

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Enhanced Data Dissemination Initiative (EDDI) phase 2 funded by the UK Department for International Development.

Liberia: Table of Common Indicators Required for Surveillance

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Any reserve assets that are pledged or otherwise encumbered should be specified separately. Also, data should comprise short-term liabilities linked to a foreign currency but settled by other means as well as the notional values of financial derivatives to pay and to receive foreign currency, including those linked to a foreign currency but settled by other means.

Both market-based and officially-determined, including discount rates, money market rates, rates on treasury bills, notes and bonds.

Foreign, domestic bank, and domestic nonbank financing.

The general government consists of the central government (budgetary funds, extra budgetary funds, and social security funds) and state and local governments.

Including currency and maturity composition.

Includes external gross financial asset and liability positions vis-à-vis nonresidents.

Daily (D); weekly (W); monthly (M); quarterly (Q); annually (A); irregular (I); and not available (NA).

1

Assistance committed under the original framework is expressed in net present value (NPV) terms at the completion point, and assistance committed under the enhanced framework is expressed in NPV terms at the decision point. Hence these two amounts cannot be added.

2

Under the enhanced framework, an additional disbursement is made at the completion point corresponding to interest income earned on the amount committed at the decision point but not disbursed during the interim period.

3

Prepared by the World Bank.

4

Approved by the World Bank Board on November 12, 2014.

5

Approved by the World Bank Board on February 19, 2016.

6

Approved by the World Bank Board on November 21, 2016.

7

The Single Donor for the Trust Fund is the Kingdom of Norway.

8

Approved by the World Bank Board on June 26, 2017.

9

Approved by the World Bank Board on January 24, 2018.

10

Amounts may not add up to original principal due to changes in the SDR/US exchange rate since signing. The amount listed in the table combine financing from IDA and trust funds.

11

Prepared by the African Development Bank.