Monrovia, Liberia - Liberia’s Finance and Development Planning Minister, Hon. Samuel D. Tweah Jr, says the World Bank Sustainable Management of the Fisheries Project for Liberia (LSMF) will yield enormous economic benefits for the country in alignment with the Pro-Poor Agenda for Prosperity and Development (PAPD).
The Minister expressed his optimism when he met with the World Bank Preparation Mission team at the Ministry of Finance and Development Planning on Wednesday, March 4, 2020.
Hon. Tweah lauded the Mission team for their support to the country and pledged President Weah’s commitment and support to effectively manage the fisheries sector in a sustainable manner.
According to him, the objective of the Liberia Sustainable Management Fisheries project is to adequately manage and sustain the resources of the sector; strengthen the institutional capacity of National Fisheries and Aquaculture Authority (NaFAA); while strengthening the economy of the country by leveraging the proceeds from the sector to promote fiscal and macroeconomic stability.
Minister Tweah stressed the importance of the project as a flagship project that will foster innovative infrastructure development within the fishery sector by reconstructing the Mesurado Pier facility, while also providing landing and post-harvest facilities in four counties, including Grand Bassa, Rivercess, Sinoe and Maryland Counties.
For his part, World Bank Liberia Country Manager Dr. Khwima Nthara assured Minister Tweah about the Bank's readiness to work with Liberia on what he calls a “project” that will transform the fisheries sector. Bank Manager Nthara expressed the need for proper preparation of the project to be done.
He thanked the NaFAA Director General Emma Glasco and her team for the willingness in doing the preparation properly and said the Mission team will do their best to be expedient.
He disclosed that the project will finance the sustainable management of the fisheries resources, by contributing to the PAPD.
It will also focus on how communities in project areas can generate resources, and on how the revenue can generate wealth in these communities.
It can be recalled that the World Bank US$40 million LSMF project was signed in January 2020 to serve as a boost to the West Africa Regional Fisheries Project (WARFP) for Liberia.
The project is expected to develop the country’s capacities in improving value addition