Home NewsLiberia Gov. signs $25million USD Loan with OPEC…..

Gov. signs $25million USD Loan with OPEC…..

by Maximilian K. Kasseh jr

MONROVIA, LIBERIA-The Liberian Government, through the National Fisheries and Aquaculture Authority (NaafA) has signed a twenty-million United States Dollar loan with OPEC Fund to co–finance the Liberia Sustainable Management of Fisheries Project.

The OPEC Fund for International Development provided the twenty-million USD loan, plus additional two-hundred-forty-thousand dollars as complementary technical assistance grant to the project, which is to directly impact women in fisheries.

Finance Minister Samuel Tweah signed on behalf of the Liberian Government, while OPEC Director General Dr. Abdulhamid Alkhalifa signed on behalf of his organization.

Speaking at the ceremony at the weekend in Washington DC, the USA, Dr. Khalifa said:” We are delighted to provide funding to the project that will provide sustainable job opportunities for coastal community dwellers, which OPEC considers.”

The OPEC Director General said that OPEC Fund has been working with the Liberian Government on several developmental initiatives since 1978.

For his part, Finance Minister Samuel Tweah described the partnership Liberia entered into with OPEC and the World Bank group is a historical one.

Minister Tweah said:” Developing countries around the world can only advance by means of stronger partnership, through share resources.”

At the same time, the Director General of the National Fisheries and Aquaculture Authority, Emma Glassco, said:” The objective of the project is to transition from artisanal fisheries to semi-industrial fishing. which leads to more sustainable fishing.”

Madam Glassco said such method will help fishermen increase their catch, ensure food security and improve their livelihoods.

The Liberia Sustainable Management of Fisheries Project (LSMFP) will impact at least six densely populated coastal countries in Liberia, which includes Montserrado, Margibi, Maryland, Grand Bassa, Sinoe and Grand Kru Counties.

By: Kolubah Zayzay

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