President Boakai Celebrates Milestone as Nation Eyes Development Boost in Infrastructure and Economic Transformation
Monrovia, Liberia – December 18, 2024
Liberia has achieved a major milestone on its development journey, officially qualifying for a second Millennium Challenge Corporation (MCC) Compact. The announcement was made by President Joseph Boakai during a national address on Wednesday, December 18, 2024, at the Executive Mansion in Monrovia.
The decision, confirmed via a call from Washington, D.C., recognizes Liberia’s significant progress in governance and reform. This new compact offers an opportunity for Liberia to secure transformative development funding, with estimates suggesting the potential allocation could range between $350 million and $500 million, depending on the scope and implementation capacity.
“This achievement is a testament to Liberia’s commitment to good governance and reform,” President Boakai announced. “The MCC has recognized our progress, and this Compact will provide critical resources to advance our development priorities and address key barriers to economic growth.”
Focus Areas for the Second MCC Compact
While the exact funding amount and program details are yet to be finalized, President Boakai highlighted the potential areas of investment, which include:
• Infrastructure Development: Improving road networks and other critical systems.
• Energy Sector Expansion: Addressing persistent power challenges to boost economic activities.
• Economic Transformation: Supporting initiatives to create jobs and stimulate sustainable growth.
If secured, the funds will be pivotal in addressing Liberia’s binding constraints to growth and accelerating the government’s long-term development agenda.
A Collective Victory for Liberia
President Boakai attributed the achievement to a unified national effort.
“This accomplishment belongs to every Liberian,” he said. “It reflects the global community’s confidence in our ability to deliver progress through unity and reform. Let us come together to celebrate this victory and continue building our nation.”
The President assured citizens that further details on the compact’s focus and implementation would be disclosed in the coming weeks.
A Call for Unity and Optimism
In his closing remarks, President Boakai encouraged Liberians to remain hopeful and committed to the nation’s growth agenda.
“This moment should inspire us to dream bigger and work harder for a brighter future,” he emphasized. “Together, we can achieve extraordinary feats. Let us raise our voices and say, ‘Congratulations, Liberia!’”
This announcement marks a significant turning point in Liberia’s development story, with the potential to unlock transformative change for the nation’s economy and its people.
