World Bank Official Highlights CSOs Role In GOL Development Objectives

By Robert Dixon

MONROVIA, June 15, (LINA) – World Bank Liberia Country Manager, Georgia Wallen, has emphasized the importance of State-Owned Enterprises (SOEs), saying that SOEs are deeply linked to delivery of Liberia’s core development objectives and the ARREST agenda of the government.

Citing others, Madam Walleh indicated that the link of SOEs to the government’s development agenda also covers scaling up energy access; to boosting sustainable management of forests and expanding access to clean water and digital connectivity among others.

She noted that sound economic governance and sustainable practices are fundamental to SOEs effectiveness and to the achievement of Liberia’s national development goals.

According to her, they play a pivotal role in many economies around the globe, serving as engines of growth, providers of essential services, and catalysts for development.

Madam Wallen pointed out that, however, their potential can only be fully realized when accompanied by robust governance mechanisms that prioritize transparency, accountability, and efficiency.

She made the statements recently, at a local hotel in Monrovia, at a one-day workshop which was held under the theme: “Improving Governance of SOEs and Reducing Fiscal Risks.

The workshop was organized by the Bureau of State Enterprises with support from the World Bank.

Madam Wallen, however, encouraged the participants to discuss insights from the recent report on "Improving Governance of State-Owned Enterprises and Reducing Fiscal Risks.

“The report underscores the importance of enhancing governance frameworks within SOEs to mitigate fiscal risks and promote sustainability,” she said.

She stressed that transparency and accountability should be the cornerstone of SOEs operations, ensuring that decision-making processes are clear and accessible to stakeholders.