MONROVIA, LIBERIA-Liberia’s Vice President Jeremiah Koung has recounted the important role agriculture plays in strengthening the private sector.

VP Koung said:” Liberia is endowed with favorable climate and fertile land, thus providing immense potential for foreign investments in the Agriculture Sector.

He stressed that the development of the Agriculture Sector may remain a challenge if the Country does not make progress on improving electricity.”

VP Koung stressed the need for a public-private partnership on energy, adding that the Liberian Government can play a regulatory role in the Energy Sector with a focus on power generation.

According to a release issued recently, the Vice President was speaking on Thursday, March 7, 2024, when a High-Power Delegation from the International Finance Corporation (IFC) of the World Bank paid him a courtesy visit at the Capitol.

The IFC is the private sector arm of the World Bank which h lends to the private sector to achieve investment opportunities and job creation.

Meanwhile, the IFC has a current investment portfolio of 17 million US Dollars in Liberia.

IFC Regional Director for Central Africa and Anglophone West Africa and Head of Delegation, Dahila Khalifa, said:” The Corporation is keen on assisting the Liberian Government in unlocking the potential for Private Sector expansion.”

Madam Khalifa singled out investments in energy and agriculture as the leading way to developing the Private Sector and achieving job creation.

Announcing the SCATEC Solar Energy project for Liberia, the visiting IFC Head of Delegation said:” The project, when implemented, will produce about twenty megawatts per solar plant to help address Liberia’s energy challenges.”