The government of Liberia and the African Development Bank (AFDB) have recently signed two grant agreements to support the country’s agriculture and tourism sectors.
The signing ceremony took place during the AfDB Annual Meetings in Malabo, Equatorial Guinea.
According to Mrs. Marie-Laure Akin-Olugbade, AfDB Director General for West Africa Region, the signing of the agreements demonstrates the bank’s desire to always work with the government and people of Liberia.
She added that it is intended to support the pursuit of Liberia’s development aspiration as contained in the Pro-Poor Agenda for Prosperity and Development (PAPD).
The AfDB regional director said with the first grant, the bank will have the opportunity to support the country’s Agriculture sector Value Chain development, which is one of the pillars of the PAPD.
Director General Akin-Olugbade explained that the first grant supporting the Agriculture value chain development is funded by the Korean Development Fund and is in the amount of US$274,000. The second grant of US$155,000 supporting the tourism sector is critical to making sure that domestic resource mobilized from the tourism sector is enhanced.
She further expressed hope that the grants will clearly identify productive areas in the agriculture value chain in Liberia and provide a platform for the Ministry of Information Culture Affairs and Tourism to develop legal and organization framework to ensure that the tourism sector can reap real benefit.