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VP Koung Meets IFC Regional Director; Prioritizes Jobs, Energy Expansion, Private-Sector Growth, and PPP Reforms

The Vice President

Monrovia, Liberia – Vice President Hon. Jeremiah Kpan Koung, Sr., today held a high-level meeting with a joint International Finance Corporation (IFC) and World Bank delegation to discuss accelerated investments in energy, jobs, and private-sector development.

The delegation was led by Madam Nathalie Akon, IFC Division Director for West Africa, and Madam Georgia Wallen, World Bank Country Manager.

They were accompanied by Mr. Kobina Daniel, IFC Resident Representative; Mr. Bobby Musah and Mr. YoQuai Lavala of IFC.

Vice President Koung was joined by Mr. Prince Gbieu, Chief of Staff; Dr. Macdonald Metzger, Deputy Chief of Staff for Administration; and Mr. Richmond Neufville, Press Secretary.

Discussions focused on fast-tracking solar and hydro investments, strengthening the legal and regulatory framework for public-private partnerships (PPPs), building a structured platform for dialogue between government and the private sector, and ensuring that Liberian-owned businesses and workers are fully integrated into the country’s growth agenda.

Madam Akon outlined IFC’s near-term priorities in Liberia’s power sector, including a planned 10 MW solar-plus-battery facility and additional solar IPP projects, alongside support for grid extensions and deployment of smart meters to reduce commercial losses and curb electricity theft. She also highlighted IFC’s “local champions” initiative to back high-potential Liberian firms, particularly in agriculture and fisheries, with investment and capacity building.

“Energy and private investment must move together if Liberia is to reach its full potential,” Madam Akon said. “IFC stands ready to support the Government of Liberia in bringing new solar capacity online quickly, strengthening the grid, and helping competitive Liberian companies scale up in key sectors like agribusiness and fisheries.”

The World Bank team provided an update on the 22 MW Scatec (SCATEC) solar project, noting that site clearance costs are expected to be under US$3 million and that the Bank is prepared to finance this under an existing operation once a formal request is submitted. “The World Bank is ready to move,” Madam Wallen stressed. “Once the Liberia Electricity Corporation requests the Ministry of Finance to transmit a formal letter to us, we can unlock funding for site clearance so work can begin in this dry season.”

Vice President Koung welcomed the update and instructed his team to follow up with the Liberia Electricity Corporation and the Ministry of Finance to ensure the request is submitted without delay.

He underscored that electricity is the foundation of Liberia’s fight against poverty, linking power access directly to market efficiency, household welfare, and investor confidence.

“Without electricity, all other investments have limited impact,” Vice President Koung said. “Today, families spend a significant share of their income going to the market every day because they cannot refrigerate food. Farmers and market women lose as much as half of their produce because there is no cold storage. If we can fix energy, we reduce waste, lower costs for ordinary Liberians, and create the conditions for factories, cold rooms and processing plants to flourish.”

The Vice President noted the progress already made in expanding access—including hundreds of thousands of new connections in recent years and ongoing work on additional solar IPPs and the planned 40 MW extension at Mount Coffee—while emphasizing the need to accelerate delivery, especially during the dry season.

On private-sector reform, the IFC and World Bank teams proposed supporting the establishment of a formal public-private dialogue platform.

Vice President Koung agreed on the importance of such a mechanism and stated, “I will discuss this proposal with President Boakai so that he can decide where the platform should be hosted institutionally.”

The World Bank also reaffirmed its commitment to supporting the Ministry of Finance and Development Planning with a modern PPP policy and regulatory framework, as well as capacity building on transaction structuring.

Vice President Koung emphasized the need to support indigenous Liberian entrepreneurs and highlighted the importance of vocational and technical training to prepare Liberians for upcoming jobs in mining, ports, roads, fisheries, and energy.

The meeting concluded with agreement on several concrete follow-up actions: the Liberia Electricity Corporation and the Ministry of Finance will move swiftly to submit the request needed to unlock World Bank financing for Scatec site clearance; IFC and the Government will continue preparations for a solar IPP pipeline; discussions will proceed on the design and institutional home of a new public-private dialogue platform; and development partners will engage with the Ministry of Finance on finalization of the draft PPP policy.

Vice President Koung thanked Madam Akon, Madam Wallen, and their teams for their continued partnership and emphasized that Liberia is ready to work closely with the IFC and the World Bank to turn commitments into measurable improvements for the Liberian people.