MoF Signs Over 8m Additional Financing Agreement

… To Support Vulnerability People in Rural Liberia

By: Perry B. Zordyu     Email: zordyuperryb@gmail.com

MONROVIA-The Ministry of Finance and Development Planning has signed an additional financing agreement that will support the REALISE Project.

The REALISE project aims to expand access to income-earning opportunities for the vulnerable in the informal sector in response to crises, increase income and livelihood support to poor and food-insecure households, and improve efficiency in managing social protection programs in Liberia.

It will be part of the Recovery of Economic Activity for Liberian Informal Sector Employment (REALISE) Project co-financed by the World Bank, Sweden, and France, and implemented by the Government of Liberia.

Meanwhile, the REALISE project will provide income and livelihood support to vulnerable, poor, and food-insecure households both in urban and rural areas while also strengthening the social protection system in Liberia.

French Ambassador to Liberia HE Mr. Michaël ROUX, Minister of Finance and Development Planning  Samuel D. Tweah, and AFD Country Director Christopher Cottet signed an 8.8MEUR (approximately 9.5 MUSD) grant financing agreement to support the economic empowerment of people living in vulnerability in rural areas.

The project includes activities such as the provision of cash for work to enhance food production, and community infrastructure as well as support to local cooperatives to facilitate communities’ access to markets.

REALISE project is a US$42 million project supported by the World Bank, France, and Sweden and implemented by the Ministry of Youth and Sports, the Ministry of Gender, Children and Social Protection, and the Liberia Agency for Community Empowerment.

Although this project is not restricted to youth, a majority of the project beneficiaries are expected to be the youth, given Liberia’s current demography, which further illustrates AFD and its partner’s (World Bank and Sweden) commitment to designing interventions that target the Liberian youth.

During the signing ceremony, it was also an occasion to sign Sweden’s and AFD’s respective administrative and co-financing agreements with the World Bank in the presence of the Swedish Ambassador to Liberia HE Mr. Urban Sjöström, and World Bank Acting Country Manager, Mr. Mack Capehart Mulbah.

Signing the agreement on behave of Liberia, Finance, and Development Planning Minister Samuel Tweh praised the partner for the gesture and reassures the government’s commitment to implementing all financing agreements to the fullest.

This co-financing with Sweden is also an illustration of the European Union Member States’ growing efforts to join forces to support the Republic of Liberia, especially within the framework of “Team Europe Initiatives” like support to agriculture and Food Security.

Since the resumption of its activities in 2018, AFD has indeed, committed more than €43 million in grants to the Republic of Liberia, more than half of which has targeted the young people of Liberia.

AFD’s complementary funding will focus on the development of community livelihoods in the rural space, primarily in Bong, Bomi, Lofa, and Gbarpolu counties.

This signing ceremony, which celebrates the renewed commitment of France to the youth of the Republic of Liberia support that will be delivered hand in hand with the World Bank and Sweden was attended by high-level representatives of the Government of Liberia.

In attendance at the signing ceremony were Minister Samuel D. Tweh, Minister Williametta P. Saydee-Tarr and Minister D. Zeogar Wilson, French Ambassador, Michaël ROUX, AFD Country Director Mr. Christophe Cottet, the Embassy of Sweden represented by Ambassador Urban Sjöström and by the World Bank Acting Country Manager Mack Capehart Mulbah.

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