Monrovia, Liberia - The Government of France through the Agency for French Development (AFD) has signed a Memorandum of Understanding with the Government of Liberia which commits the French support to the flagship development agenda of President George M. Weah dubbed the Pro-poor Agenda for Prosperity and Development.
The signing of the AFD Roadmap to support the Pro-Poor Agenda for Prosperity and Development (PAPD) took place on Tuesday, November 27, 2018 at the French Embassy near Monrovia.
Deputy Minister for Economic Management at the Ministry of Finance and Development Planning, Hon. Augustus J. Flomo signed on behalf of the Liberian government, while AFD’s Chief Executive Officer, Mr. Remy Rioux signed on behalf of the Agency for French Development.
The MOU recounts that on February 8, 2018, Liberia was added to the list of high-priority countries for French aid by a decision of the Inter-ministerial Committee for International Cooperation and Development. According to the MOU, the AFD has since then committed itself to explore possible areas of cooperation with the GOL and other partners to expand its activities in the country with the objective of reaching quick and positive impacts on the Liberian population.
Moreover, the MOU expressed the GOL’s expectation that the AFD will support projects and programs in the country in the following years working with not only government institutions but also with civil society, private sector and other development finance institutions to the benefit of the Liberian population and in coherence with the PAPD.
Meanwhile, the MOU signed Tuesday outlined the June 13, 2018 commitment of 5 million Euro for budget support (disbursed on November 14, 2018) and the November 22, 2018 additional 5 million euro to strengthen youth employability and entrepreneurship both as a result of a 10 million euro grant announced by President Macron during the first visit to France of President George M. Weah.
The MOU also adds that in 2019, the AFD should commit a 10 million euro financing to strengthen youth employment schemes in Liberia, and the PROPARCO (AFD’s subsidiary devoted to private sector) should commit a loan to a bank to finance domestic businesses in order to stimulate job creation and economic development.
The Pro-Poor Agenda for Prosperity and Development (PAPD) was officially launched by President Weah on October 27, 2018 in Ganta, Nimba County for the period 2018 to 2023. The country’s development agenda comprises four (4) pillars: Power to the People, Economy and Jobs, Sustaining the Peace, and Governance and Transparency.