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Posts Tagged ‘Liberia’

World Bank Group Commits US$ 5 Billion to Boost Electricity Generation in Six African Countries

Posted by Business in Ghana on August 6, 2014

WASHINGTON, August 5, 2014 – The World Bank Group today committed $5 billion in new technical and financial support for energy projects in six African countries– Ethiopia, Ghana, Kenya, Liberia, Nigeria, and Tanzania_which have partnered with President Obama_s Power Africa initiative. 
Making the announcement on the second day of the 1st US-Africa Summit, World Bank Group President, Dr. Jim Yong Kim, said the new financial commitment was urgently needed to generate more electricity for the people of Africa, 600 million of whom have no access to electricity, despite the fact that Africa possesses some of the world_s largest hydropower, geothermal, wind and solar potential, as well as significant oil and natural gas reserves.

We think that the U.S. Power Africa initiative will play an extremely important role in achieving the goal of providing electricity for Africa. So today I’m very pleased to announce that the World Bank Group, following President Obama’s lead, will partner with Power Africa by committing $5 billion in direct financing, investment guarantees, and advisory services for project preparation in Power Africa’s six initial partner countries, Ethiopia, Ghana, Kenya, Liberia, Nigeria, and Tanzania. The U.S. Government and the World Bank Group are working now on specific tasks and milestones which could help to achieve one quarter of Power Africa’s goal of generating 10,000 megawatts of new power in Sub Saharan Africa,_ Kim said. Read the rest of this entry »

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IMF Technical Assistance Finds A Teachable Moment in Africa

Posted by Business in Ghana on November 23, 2011

Source: IMF Survey online

Stephen George is a public high school principal worried about the usual things: how students will fare on upcoming exams, crowded classrooms, and how to make sure his teachers get paid on time.

George has his work cut out for him. Matilda Newport High School in Monrovia, Liberia on the west coast of Africa has all the usual stresses that keep high school principals around the world awake at night, and then some.

The civil war wreaked havoc on daily life for the almost four million people in the small West African country. Roads and buildings were destroyed, people were displaced from their homes, and schools shut their doors. Read the rest of this entry »

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