African Development Bank (www.AfDB.org) Executive Director Rufus N. Darkortey has concluded a five-day working visit to Liberia, where he held high-level discussions with major stakeholders, including President Joseph Nyuma Boakai.

Darkortey, who represents Liberia, The Gambia, Ghana, Sudan, and Sierra Leone at the Bank, also met with Liberian Vice President Jeremiah Kpan Koung, Speaker of Parliament Jonathan Fonati Koffa, and several ministers and agency heads.

The July 8-12 mission, Darkortey’s first official engagement with Liberia since President Boakai’s election, centered on aligning the Bank’s support with Liberia’s development priorities, including fostering sustainable and inclusive growth.

President Boakai commended the African Development Bank Group under Dr. Akinwumi Adesina’s leadership for its significant support. He pledged to implement the necessary reforms to accelerate development in the West African country. Key focus areas of discussion included infrastructure development, SME-led private sector growth, bolstering domestic resource mobilization, and agricultural productivity.

Darkortey highlighted the Bank’s current portfolio in Liberia, with 56% of investments directed towards the transport sector, 28% to energy, and 8% to agriculture. Notable projects include the Fish Town-Harper highway and a cross-border high-voltage transmission line that will interconnect Liberia with Cote d’Ivoire, Sierra Leone, and Guinea.

The Executive Director reaffirmed the Bank’s commitment to supporting Liberia’s development under the leadership of President Boakai, who assumed office in January 2024. Discussions also focused on the Bank’s Youth Entrepreneurship Investment Bank initiative. In 2023, the Bank approved around $16 million to support over 30,000 youth-led micro, small, and medium enterprises in Liberia’s burgeoning agribusiness and allied sectors.

At the Bank’s 2024 Annual Meetings in Nairobi, Kenya, in May, Adesina announced plans to mobilize $3.5 billion to $5 billion for the Liberty corridor project, involving the construction of a world-class rail system connecting Liberia’s deepwater Didia port to Guinea. This aligns with President Boakai’s ARREST Agenda, a national development plan, focusing on agriculture, roads, rule of law, education, sanitation, and tourism to promote inclusive development.

The African Development Bank has been a long-time supporter not only of Liberia but of the Mano River Union, which is seen as a conduit to develop the region’s agricultural potential, create jobs for youth unemployment and tackle fragility.

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

Contact:
Kwasi Kpodo
Communication and External Relations
media@afdb.org

About the African Development Bank Group: 
The African Development Bank Group (AfDB) is the premier multilateral financing institution dedicated to Africa’s development. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NSF). The AfDB has a field presence in 41 African countries, with an external office in Japan, and contributes to the economic development and social progress of its 54 regional member states. For more information: www.AfDB.org

Today in New Alamein City, President Abdel Fattah El-Sisi received President of the United Arab Emirates and Ruler of Abu Dhabi, His Highness Sheikh Mohamed bin Zayed Al Nahyan, who made a private visit to Egypt. The two leaders met in a fraternal atmosphere, underscoring the robust and profound historical relations between the two countries and their peoples.

President El-Sidi accompanied His Highness Sheikh Mohamed bin Zayed on a tour to New Alamein City, where they visited its prominent landmarks and inspected the construction and development achieved in the city.

President El-Sisi then bid farewell to Egypt’s esteemed guest at Al Alamein Airport, emphasizing the brotherly and historical relations and bonds the two countries’ leaderships and peoples share.

Distributed by APO Group on behalf of Presidency of the Arab Republic of Egypt.

H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, met with Mr. Khalid A. Al-Falih, Minister of Investment of Saudi Arabia, and his accompanying delegation, which included Mr. Saleh bin Eid Al-Huseini, Saudi Ambassador to Egypt, Ms. Sara Al-Sayed, Saudi Deputy Head of the Investment Promotion Authority, Mr. Mohammed Al Sahib, Undersecretary of the Ministry of Investment for Investment Sector Development, and several other officials. The meeting focused on enhancing mutual relations between the two countries and solidifying partnerships, particularly in priority sectors, given Egypt’s current prioritization of private sector investments.

Al-Mashat emphasized the diversity of Saudi investments in Egypt, noting that hundreds of Saudi companies are active in vital and priority sectors in Egypt. The government looks forward to further partnerships and investments from the private sector within the framework of the ongoing development of relations supported by the leadership of the both countries. She highlighted Egypt’s commitment to improving the investment environment and creating opportunities for both local and foreign private sectors to increase investment levels.

Empowering the private sector is seen as a key driver of sustainable growth across various sectors and a means of job creation. H.E. Minister Al-Mashat noted that the government is focused on creating a competitive economy that attracts investments and improving financial and economic performance. H.E. Dr. Al-Mashat also mentioned that the new government prioritizes human development and industry localization as central goals within its program, aiming to increase investment in people, stimulate production, and enhance the appeal of local products in foreign markets.

The Minister also discussed the ministry’s efforts with international partners to support the implementation of structural reforms through budget support financing, which enhances the business environment and encourages the private sector to invest more. H.E. Minister Rania Al-Mashat further clarified that the merger of the Ministries of Planning, Economic Development, and International Cooperation enhances macroeconomic stability by efficiently managing investment spending and maximizing economic and social returns from investments. The ministry is working on implementing an investment spending governance framework that provides opportunities for both local and foreign private sectors.

Distributed by APO Group on behalf of Ministry of Planning and Economic Development – Egypt.

Head of Government Aziz Akhannouch arrived in Nouakchott on August 01, 2024, to represent His Majesty King Mohammed VI at the inauguration ceremony of the Mauritanian President Mohamed Ould Cheikh El Ghazouani, who has been re-elected for a second term.

Akhannouch was greeted at Nouakchott airport by Mauritanian Prime Minister Mohamed Ould Bilal Messaoud and Moroccan Ambassador to Mauritania Hamid Chabar.

Ould Cheikh El Ghazouani was re-elected for a second term as President of the Islamic Republic of Mauritania, after winning the presidential election by securing 56.12% of the votes in the first round.

Distributed by APO Group on behalf of Kingdom of Morocco – Ministry of Foreign Affairs, African Cooperation and Moroccan Expatriates.