The Liberian Ministry of Finance announced on Thursday, January 26, 2023 that the Government of Liberia and the World Bank have signed two agreements worth $50 million in total. This with the aim of strengthening the country's economy.

Several shocks have had a negative impact on the poverty rate in Liberia according to the Bm. The country had thus fallen from 53.4% to 25.9% between 2007 and 2020. It increased to 33.2% in 2020. Indeed, several economic policies have been implemented by governments to deal with the situation. Of the $50 million, $30 million is planned to make additional funds available to the government for rural economic transformation projects (RETRAP).

According to the authorities, this funding will be used to support the production of rice, which is Liberia's main staple food, and other food crops, such as legumes and vegetables. Its objective is to “stimulate government efforts to increase domestic food production, reduce dependence on imports.” $20 million is the second funding. It is part of the project to revive economic activity for Liberians on informal employment (REALISE).

Youth Minister Zoegar Wilson believes that the community livelihoods transfer program will expand its geographic reach to other counties through this new fund.