Liberia and France sign financing agreement
The agreement is intended to strengthen Liberia and France “s bilateral relationship, leveraging additional resources for impactful projects in Liberia, and improving the private sector engagements, among other things. It allows the AFD group to operate in Liberia as a duly recognized international institution. According to a Ministry of Finance release,…
The Ministry of Finance and Development Planning (MFDP), and the Agence Française de Développement (AFD) on Tuesday, 22 November 2022 signed a co-financing, partnership, and establishment agreement.
The agreement is intended to strengthen Liberia and France’s bilateral relationship, leveraging additional resources for impactful projects in Liberia, and improving the private sector engagements, among other things.
The agreement between MFDP and AFD group implements France’s policy in the areas of development and international solidarity.
A sum of 1.2 Million Euros French financing agreement grant to finance phase 2, of the scholarship program that will allow 40 more Liberian youth to study in the institute National Polytechnique Houphouet- Boigny (INP- HB) in Cöte D’Ivoire was signed during the ceremony.
According to the Ministry of Finance, the co-financing and partnership agreement updates a former document signed in 1981.
It allows the AFD group to operate in Liberia as a duly recognized international institution.
The signing agreement comes nearly five years after the AFD group resumed its operations in 2018. It has committed 58 Million Euros in Liberia.
According to a Ministry of Finance release, the signing ceremony celebrates a new landmark of a partnership between Liberia and France.
It will complement the current partnership between the two countries, through mutual understanding, by facilitating, infrastructure development and improving the private sector.
Speaking during the signing ceremony, Finance Minister Samuel D. Tweah, Jr., said the Financing Agreement will help boost private sector engagement.
Tweah said: “The support comes at a good time as Agriculture, Public Financial Management (PFM), decentralization, and Private Sector developments are priorities areas for the Government of Liberia in terms of job creation, service delivery, and better financial management.”
He further said infrastructure constraints remain a major challenge for Liberia but acknowledged that change is underway.
Minister Tweah urged Liberians to remain patient as the Coalition for Democratic Change (CDC) government moves to bring development.
Minister Tweah said transformation is ahead for young people and the private sector.
He noted that the Government of Liberia is working with the private sector and the World Bank to [address] the challenges young people face in the country.
Tweah said: “This agreement that we are signing today is a special one because France has been one of our important partners, with a clear manifestation of renewed bilateral partnership, President George Weah signed with the French Government back in 2018.”
He thanked the French Government through the AFD for the overall support of Liberia.
Minister Tweah expressed hope that the financing agreement will provide support for investment for sustainable agricultural development in the private sector.
For his part, Christopher Cottet, signing on behalf of AFD, said it deepened the AFD support for private sector development.
He said the AFD is implementing France’s policy on international development and solidarity through its financing of non-governmental organizations and the public sector.
He said the AFD supports and accelerates transitions development towards a relationship with Liberia.
Also Speaking, French Ambassador to Liberia Michael Roux, reaffirmed his government’s stronger tie with Liberia.
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