Aug 04, 2026 (The New Dawn/All Africa Global Media via COMTEX) --
- Secure New Financing Commitments
- The Liberian Government and the Arab Coordination Group (ACG) have concluded a high-level dialogue in Monrovia with renewed commitments to deepen development cooperation, including a US$50 million financing pledge from the Saudi Fund for Development to support Liberia's national electricity expansion project.
The meeting, hosted by the Ministry of Foreign Affairs, followed the ACG delegation's participation in the inauguration of the Bangu-Salay Road Project in Lofa County. It focused on expanding cooperation in infrastructure, energy, human capital development, private sector growth, and other priority sectors under the Government's ARREST Agenda for Inclusive Development.
The delegation included Saudi Fund for Development Chief Executive Officer Sultan Abdulrahman Al-Marshad, Director General of the Kuwait Fund for Arab Economic Development Waleed Shamlan Al-Bahar, and Director General of the Abu Dhabi Fund for Development Fatima Alnaqbi. Liberia was represented by Foreign Affairs Minister SarahBeysolow Nyanti and other senior government officials.
During the discussions, ACG representatives encouraged Liberia to expand its engagement with additional Arab financial institutions, including the Islamic Development Bank, to increase development financing opportunities and attract greater private sector investment.
Both sides reaffirmed their commitment to strengthening cooperation in infrastructure development, energy, education, human capital, private sector development, and other sectors aimed at promoting sustainable economic growth and improving living standards.
Speaking on behalf of the Government of Liberia, Foreign Minister Nyanti thanked the Arab Coordination Group for its continued support and praised Liberia's Ambassador to Saudi Arabia, Amara Soko Sackor, for advancing the country's economic diplomacy agenda.
Nyanti also highlighted President Joseph Nyuma Boakai's proposed Omega Market Project, describing it as a flagship initiative intended to empower women traders, strengthen small businesses, and promote inclusive economic growth.
"Economic diplomacy remains the cornerstone of Liberia's foreign policy," she said. "Diplomacy must produce tangible results by creating jobs, expanding investment opportunities, and improving the lives of Liberians. We remain focused on attracting investment, mobilizing development financing, and strengthening international partnerships that support Liberia's economic transformation."
Speaking for the Saudi Fund for Development, Al-Marshad announced that the institution has committed approximately US$50 million to Liberia's national electricity expansion project. He disclosed that another member of the Arab Coordination Group is also prepared to provide matching financing.
He further confirmed the Fund's interest in reviewing the feasibility study for the third phase of the Konia-Voinjama Road Project, reaffirming its support for improving Liberia's transport infrastructure.
Representing the Abu Dhabi Fund for Development, Alnaqbi described Liberia as a valued development partner and expressed the Fund's readiness to participate in the electricity expansion project through coordinated financing.
She also highlighted opportunities for expanded cooperation in education, youth empowerment, skills development, private sector growth, and trade and investment promotion.
On the proposed Omega Market Project, Alnaqbi said the Fund looks forward to reviewing the Government's feasibility study for possible financing under its private sector investment window.
Meanwhile, Kuwait Fund Director General Al-Bahar reaffirmed his institution's longstanding partnership with Liberia and identified a priority water sector project for possible financing, subject to government prioritization and the successful completion of the Fund's appraisal process.
He emphasized the importance of coordinated financing among Arab development institutions to maximize development impact across Liberia.
COMTEX_490089228/2029/2026-08-04T22:01:35
by By Lincoln G. Peters
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