<\/p>\n
The funding forms the first phase of the Fiscal Sustainability and Mining Sector Governance Support Programme, a two-year budget support initiative designed to enhance economic governance and promote inclusive growth. The programme is expected to help Liberia expand fiscal space, improve public sector accountability and strengthen institutional capacity.<\/p>\n
<\/p>\n
AfDB Director-General for West Africa Lamin Barrow said the operation would support key reforms needed to improve public finances and ensure more effective delivery of essential services. Barrow said the programme would also contribute to strengthening transparency and accountability within public institutions.<\/p>\n
<\/p>\n
Liberia has made progress in stabilising its macroeconomic framework in recent years, but still faces structural challenges, including a narrow tax base, persistent fiscal pressures and governance weaknesses in the extractive industries. The programme will support reforms focused on improving tax administration, reducing revenue leakages and strengthening oversight of natural resource management.<\/p>\n
<\/p>\n
Key measures include the introduction of a value-added tax system, improvements to public debt management frameworks, enhanced procurement transparency and stronger anti-corruption mechanisms. These reforms are intended to improve efficiency in public financial management and boost domestic revenue mobilisation.<\/p>\n
<\/p>\n
In the mining sector, the programme will help strengthen regulatory frameworks and improve transparency and oversight. These measures are expected to increase the sector\u2019s contribution to government revenues while supporting more sustainable management of natural resources.<\/p>\n
<\/p>\n
–AfDB\/ChannelAfrica–<\/p>\n","protected":false},"featured_media":36357,"template":"","meta":{"_acf_changed":false,"_links_to":"","_links_to_target":""},"news-type":[44],"class_list":["post-36356","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-finance","entry"],"acf":{"short_description":"The African Development Bank (AfDB) Group has approved a $16.7 million financing package for Liberia to support reforms aimed at strengthening fiscal sustainability and improving governance in the mining sector.","published_date":"","news_description":"The African Development Bank (AfDB) Group has approved a $16.7 million financing package for Liberia to support reforms aimed at strengthening fiscal sustainability and improving governance in the mining sector.","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/36356","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":1,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/36356\/revisions"}],"predecessor-version":[{"id":36358,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/36356\/revisions\/36358"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/36357"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=36356"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=36356"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}