Early Warning System

Countries

Liberia

Geographic location where the impacts of the investment may be experienced.

Financial Institutions

African Development Bank (AFDB)

International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.

Project Status

Approved

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."

Voting Date

Mar 17, 2023

Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.

Borrower

Government of Liberia

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Finance
Law and Government

The service or industry focus of the investment. A project can have several sectors.

Investment Type(s)

Grant

The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.

Grant Amount (USD)

$ 3.85 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.

Investment Amount (USD)

Not Disclosed

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.

Bank Documents

Primary Source

Original disclosure @ AFDB website

Updated in EWS May 18, 2023

Disclosed by Bank May 17, 2023

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the AfDB, Liberia's Pro-Poor Agenda for Prosperity and Development 2018 to 2023 and National Financial Inclusion Strategy 2019-2023 both seek to augment inclusion through increased access to finance and improved infrastructure. As one of the WAMZ countries, Liberia also subscribes to the agenda for greater integration through modernisation of payment systems. The project's primary objective is to strengthen the payments ecosystem in Liberia for increased efficiency.
It has four main components, namely: (1) the upgrade of the Automated Cheque Processing and Automated Clearing House; (2) the upgrade of the Real Time Gross Settlement system; (3) the upgrade of the climate-resilient and energy-efficient Main Data Centre and Disaster Recovery Site; and (4) the project management.

Early Warning System Project Analysis

For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

People Affected By This Project

People Affected By This Project refers to the communities of people likely to be affected positively or negatively by a project.

Investment Description

Here you can find a list of individual development financial institutions that finance the project.

African Development Bank (AFDB)

Private Actor Relationship

A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Private Actors Description

Contact Information

This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

AfDB Team Leader:

Sheila Okiro
Email: s.okiro@afdb.org

Implementing Agency - Central Bank of Liberia:

Phone: +231 77 660 9066
Website: https://www.cbl.org.lr/

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.afdb.org/en/disclosure-and-access-to-information/request-for-documents. Under the AfDBÕs Disclosure and Access to Information policy, if you feel the Bank has omitted to publish information or your request for information is unreasonably denied, you can file an appeal at https://www.afdb.org/en/disclosure-and-access-to-information/appeals-process.

ACCOUNTABILITY MECHANISM OF AfDB

The Independent Review Mechanism (IRM), which is administered by the Compliance Review and Mediation Unit (CRMU), is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an African Development Bank (AfDB)-financed project. If you submit a complaint to the IRM, it may assist you by either seeking to address your problems by facilitating a dispute resolution dialogue between you and those implementing the project and/or investigating whether the AfDB complied with its policies to prevent environmental and social harms. You can submit a complaint electronically by emailing crmuinfo@afdb.org, b.kargougou@afdb.org, b.fall@afdb.org, and/or s.toure@afdb.org. You can learn more about the IRM and how to file a complaint at: https://www.afdb.org/en/independent-review-mechanism/