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Finance Minister Optimistic of Recovery and Prosperity in 2020 and Years Ahead

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Monrovia, Liberia - Liberia’s Finance and Development Planning Minister, Hon. Samuel D. Tweah Jr, has assured Liberians that beginning this year (2020), the country will begin to experience recovery and prosperity. He also expressed optimism about increased prospects in the years ahead.

Minister Tweah assured that officials of government are fully committed to achieving the mandate and development vision of President George Manneh Weah.

The mandate, he says, calls for addressing the economic challenges facing Liberians. He was speaking at the singing of the Preparatory Project Advancement of US$3.7 million out of US$40 million Fisheries Agreement between the World Bank and the Government of Liberia, held on Tuesday, January 21, 2020.

Minister Tweah, who acknowledged challenges faced by Liberians in 2019, stated that the government is working with vigor to turn things around in the years moving forward.

“Going forward, there will be challenges, but we are going to overcome them through the robust implementation of the mandate of the president,” Minister Tweah averred.

He said the country is currently making progress with regard to the Fiscal and Monetary sectors, adding that confidence is being restored at the Central Bank of Liberia.

He disclosed that the government is currently working with the World Bank to deliver on the pavement of the Ganta-Zwedru road corridor. He added that the second stretch from Tappita to Zwedru is set for 2022. He further disclosed that when completed, the Sanniquellie-Laquatuo, will serve as trade link with Cote d'Ivoire and boost trade and commerce along that corridor.

Speaking further, The Liberian Finance Minister added that the government of Liberia has paid all arrears owed the Liberia Water and Sewer Corporation nearly all of which predates the current government, and that government has begun processing the LEC debt of US$1 million.

Meanwhile, Minister Tweah has thanked the World Bank for its support to the government, and the meaningful projects they have supported over the years.

He noted that Liberia’s partnership with the World Bank is expected to move towards transformative and impactful projects for job creation.

He added that the Bank is looking towards additional financing in the amount of US$75 million for scaling up agriculture.
He thanked the Director of the National Fishery Authority Emma Glassco for her passion and leadership aimed at transforming the fisheries sector.

For his part, World Bank Country Manager, Dr. Khwima Nthara, said the Bank believes making an impact in the sector will be transformative, and that supporting Liberia in the right and the significant way was important. The Country Manager expressed the hope that Liberia can get the requisite qualification from the EU to enable the sector to gain access to the EU market and thereby attract significant investments.

The Project, he said, will help monitoring capabilities by putting in place systems for industrial fishing, while increasing sea patrol to curtail illegal fishing.

He enjoined authorities at NaFAA and the West African Fishery Authority to integrate lessons.
Dr. Nthara also expressed commendations for the development vision of President Weah’s government which is encapsulated in the Pro-poor Agenda for Prosperity and Development.

 

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