BRAZZAVILLE, CONGO — Liberia’s Finance and Development Planning Minister Augustine Kpehe Ngafuan has called for stronger institutional and financial support from the African Development Bank Group (AfDB) as member countries of Constituency 15 continue navigating mounting global economic uncertainties and development challenges.
Speaking Monday during the Annual Meeting of AfDB Constituency 15 in Brazzaville, Republic of Congo, Minister Ngafuan — who currently serves as Chairman of the constituency — highlighted the resilience demonstrated by member countries despite rising inflation, commodity price volatility, climate-related shocks, and tightening global financing conditions.
AfDB Constituency 15 comprises The Gambia, Ghana, Liberia, Sierra Leone, and Sudan — countries that collectively engage the African Development Bank on development financing, governance reforms, and economic transformation priorities.
Call for Expanded Financial and Technical Support
In his special statement delivered as the AfDB Annual Meetings officially commenced, Ngafuan stressed the urgent need for expanded analytical, advisory, and financial assistance to help member states strengthen macroeconomic stability, diversify their economies, and build long-term resilience.
The Liberian Finance Minister noted that fragile and transition states within the constituency continue facing significant fiscal and development pressures amid global economic instability.
He emphasized that access to affordable and predictable financing remains essential for sustaining development gains and protecting vulnerable economies.
Minister Ngafuan therefore called for a strong replenishment of the African Development Fund (ADF), continued support for the Transition Support Facility (TSF), and broader deployment of innovative financing instruments, including blended finance and private sector mobilization mechanisms.
According to him, stronger partnerships between the AfDB and African governments will be critical to achieving sustainable development objectives across the continent.
Push for Greater Representation Within AfDB
The Constituency 15 Chairman also advocated for increased representation of member countries within the African Development Bank’s workforce and decision-making structures.
Ngafuan stressed the importance of stronger decentralized operations and enhanced country-level presence by the Bank, arguing that such measures significantly improve project implementation, accountability, and delivery of development results.
He reaffirmed the constituency’s support for reforms aimed at improving the Bank’s operational efficiency, transparency, and responsiveness to member states.
The Liberian Minister encouraged continued collaboration between the AfDB and African countries in advancing infrastructure development, governance reforms, energy access, agriculture, and regional integration initiatives.
Ngafuan Highlights Liberia’s Economic Progress
Turning specifically to Liberia’s economic situation, Minister Ngafuan acknowledged that the country continues facing structural vulnerabilities and external shocks but noted that encouraging macroeconomic progress is being recorded.
According to him, Liberia’s economy continues to experience steady — though modest — growth largely driven by the agriculture, mining, and services sectors.
He said the Government of Liberia remains focused on implementing structural reforms aimed at strengthening domestic revenue mobilization, improving public financial management, and creating a more attractive business environment for investment.
Ngafuan further disclosed that Liberia’s active African Development Bank portfolio currently consists of 17 projects valued at approximately US$350 million.
The projects span critical sectors including transport, energy, agriculture, governance, and finance.
He noted that transport infrastructure alone accounts for approximately 64 percent of the portfolio, reflecting Liberia’s strong emphasis on road connectivity, regional integration, and trade facilitation under the Boakai administration’s development agenda.
Portfolio Performance Improving
Minister Ngafuan also highlighted improvements in Liberia’s AfDB project portfolio performance between 2023 and 2025.
According to him, Liberia’s disbursement ratio increased from 43 percent in 2023 to 51 percent by November 2025, while the number of flagged projects declined from 47 percent to 32 percent during the same period.
He attributed the progress to stronger collaboration between the Government of Liberia and the African Development Bank.
Reaffirming Liberia’s commitment to the AfDB’s continental development mission, Ngafuan declared:
“We came here in a spirit of partnership, accountability, and shared ambition to build an Africa that is prosperous, inclusive, and resilient.”
The African Development Bank Annual Meetings continue this week in Brazzaville, bringing together African finance ministers, central bank governors, policymakers, development experts, and international financial institutions to discuss Africa’s economic outlook, development financing, and regional integration priorities.
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