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Liberia - Proposal for Arrears Clearance under the Arrears Clearance Programme and Post-Conflict Country Facility
On July 19, 2004, the Boards of Directors approved general policy guidelines for assisting postconflict countries (PCCs) to clear their arrears to the African Development Bank Group. The policy guidelines stipulate that arrears clearance programs for PCCs must: (i) create an opportunity for a sustainable normalization of relations with the Bank Group; (ii) lead to positive net transfers to the PCC; (iii) be configured on a case-by-case basis in close coordination with other International Financial Institutions (IFIs) and the Donor community; and (iv) comply with other key financial policies and practices of the Bank Group. The PCC arrears clearance guidelines call for a three-way sharing of the financing costs with contributions from the PCC, Donors and the PCCF determined on a case-by-case basis. In accordance with these principles, this paper proposes a specific arrears clearance program for the Republic of Liberia (Liberia) which complies with the general guidelines.