Liberia-Economy-Pledge- World Bank

World Bank pledges support to Liberia Financial System

APA-Monrovia (Liberia)

The Liberia Country Manager of the World Bank has pledged the bank's support to Liberia's Financial System.

Dr. Kohima Nthara stated that strengthening the public financial management (PFM) system is a key area that development partners like the World Bank in particular seek to support in many post-conflict environments.

Dr. Nthara made the statement Tuesday at the official launch of the Public Financial Management Reform for Institutional Strengthening (PFMRIS) Project held at a local hotel in the Monrovia suburb of Sinkor.

According to him, this is because effective Public Financial Management is a critical foundation for basic economic governance and in establishing the performance, legitimacy and accountability of a
functional state.

He noted that it is for reason that the World Bank continues to intensify its assistance to countries to enhance state and peace building efforts.

He asserted that it is these principles that have carefully been calibrated into the design of the PFMRIS that is being launched.

Dr. Nthara emphasized that the PFMRIS protect, financed through an International Development Association (IDA) grant of $19 million, will improve the domestic revenue mobilization system and strengthen financial control and accountability in public finance as a continuation of state building in supporting the Republic of Liberia.

TSS/abj/APA

React to this article