The government of Liberia, through the National Fisheries and Aquaculture Authority (NaFAA), has signed a US$20 million loan with OPEC Fund to co-finance the “Liberia Sustainable Management of Fisheries Project with the World Bank.
OPEC Fund for International Development provided the US$20 million loan and a US$240,000 complementary technical assistance grant to Liberia to co-finance the Project in Liberia.
Finance Minister Samuel Tweah signed on behalf of the government of Liberia while Dr. Abdulhamid Alkhalifa, Director General of OPEC signed on behalf of his organization.
The signing ceremony was held on Friday October 14, 2022 in Washington DC at the World Bank Headquarters.
Speaking at the ceremony, the Director General of OPEC Fund said they were delighted to provide funding to the Liberia Sustainable Management of Fisheries Project because the project is intended to create job opportunities for coastal dwellers.
“We are signing today a very important project and it is our honor as a fund along with the World Bank to be part of the signing ceremony.”
Dr. Abdulhamid Alkhalifa disclosed that when he read about the impact the Liberian fisheries project would have on the more than 55,000 beneficiaries his institution saw the need to provide the necessary funding to help make the project a success.
Additionally, Dr. Alkhalifa stated that the project will also provide what he termed as sustainable job opportunities for coastal community dwellers which they at OPEC consider as welcome.
The OPEC fund Director General announced that aside from the US$20 million loan they are providing a complementary technical assistance grant of US$240,000 which will have particular impact on women in fisheries.