Minister Tweah Optimistic about Liberia’s Economic Recovery

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World Bank Country Manager Nthara and Minister Tweah signed the agreement yesterday at the Ministry of Finance and Development.

—Signs US$3.7M out of $40M Fisheries Agreement with World Bank

Samuel D. Tweah Jr, Finance and Development Planning (MFDP) has assured Liberians that beginning this year (2020), the country will begin to experience economic recovery and prosperity.

Minister Tweah, made the expression on Tuesday, January 21, 2020 when he signed the Preparatory Project Advancement Agreement of US$3.7 million out of US$40 million Fisheries Agreement between the World Bank and the Government of Liberia.

He assured officials of government present at the signing ceremony that the government is fully committed to achieving the mandate and development vision of President George Manneh Weah. The mandate, he says, calls for addressing the economic challenges facing Liberians.

Minister Tweah, who acknowledged challenges faced by Liberians in 2019, stated that the government is working with vigor to turn things around in 2020 and the years moving forward.

He lauded the World Bank for its numerous development support to Liberia’s recovery process and said the project when fully implemented will boost the fisheries sector of Liberia.

“Going forward, there will be challenges, but we are going to overcome them through the robust implementation of the mandate of the President,” Minister Tweah averred.

He said the country is currently making progress with regard to the fiscal and monetary sectors, adding that confidence is being restored at the Central Bank of Liberia. The Minister acknowledged significant reforms done in the fiscal and monetary spheres which have begun to yield positive results.

He disclosed that the government is currently working with the World Bank to deliver on the pavement of the Ganta-Zwedru road corridor and that ‘yellow machines’ for the pavement will arrive during Dry Season of 2021.

He added that the second stretch from Tappita to Zwedru is set for 2022.

Tweah also mentioned that when completed, the Sanniquellie-Laquatuo, will serve as trade link with Cote d’Iviore and boost trade and commerce along that corridor.

Speaking further, Tweah added that the government of Liberia has paid all arrears owed the Liberia Water and Sewer Corporation nearly all of which predates the current government.

He disclosed further that government has begun processing the payment of about US$600,000 of US$1 million owed the Liberia Electricity Corporation and that additional payments to clear the entire debt to the Corporation will be made in the next few weeks..

Meanwhile, Minister Tweah has thanked the World Bank for its support to the government, and the meaningful projects they have supported under this administration.

He noted that Liberia’s partnership with the World Bank is expected to move toward transformative and impactful projects for jobs creation.

He added that the Bank is looking toward additional financing in the amount of US$75 million for scaling up agriculture.

The Minister thanked the Director of the National Fishery Authority Emma Glassco for her passion and outstanding leadership aimed at transforming the fisheries sector.

For his part, World Bank Country Manager, Dr. Khwima Nthara, said the Bank believes making an impact in the fisheries sector will be transformative, and that supporting Liberia in the right and significant way was important.

The Country Manager expressed the hope that Liberia can get the requisite qualification from EU to enable the sector gain access to the EU market and thereby attract significant investments.

The Project, he said, will help monitoring capabilities by putting in place systems for industrial fishing, while increasing sea patrols to curtail illegal fishing.

The new project, according to him, will involve investments in improving management of selected fisheries, improving handling of fish and fish products and support to aquaculture.

He furthered the project will be implemented in Montserrado and four other sites to be selected in four coastal counties; adding that it is currently at the preparatory/design stage and will need to be participatory and consultative.

He enjoined NaFAA and the West African Fishery Authority to integrate lessons.

Dr. Nthara also expressed commendations for the development vision of President Weah’s government which is embedded in the Pro-poor Agenda for Prosperity and Development and assured the Bank’s continual support.

The US$40 million project titled “Sustainable Management of the Fisheries Project” aims to sustain the gains of the West African Regional Fisheries Project (WARFP) in Liberia and develop national capacities to improve the value-added and increase the economic contribution of the fisheries sector and the restoration of key infrastructure to enhance the sector’s contribution to the economy.

The new World Bank National Fisheries Project will focus on the rehabilitation and expansion of the Mesurado Fishing Pier to a state-of-the-art modern fishing port with onshore processing facilities for value addition.

The Project will also prioritize the establishment of landing jetties in five coastal counties with densely populated fishing communities such as Montserrado, Grand Bassa among others in an effort to reduce huge post-harvest loss and supply the domestic market with high quality of fish products which has a fish demand deficit of 33, 000 metric tons.

8 COMMENTS

  1. THANK YOU MR. TWEAH, GOOD NEWS FOR YOU AND THE OTHER WELL SEASONED CORRUPT OFFICIALS. NO WORRY, NO PROBLEM, CORRUPTION IS NOT A CRIME AT ALL IN LIBERIA. THIS IS A COUNTRY WITH SO MANY MANY FOOLS LIVING IN PARADISE ON THE DAILY BASIS MY PEOPLE. (WATCH)

  2. NO, it will NOT grow. Grow from what? Grow from donors monies?
    We are not exporting or producing anything for internal use.
    We do not Know where we are going but just living?
    We do no know how to create jobs because the Know-Hows or Skillsets are not there. I am speaking from the industrial View.
    Without industries, Liberia will never, ever develop.

    God bless.

    • Infact, where are those missing monies that would have been used to start industries. Such industries would have created lots of modern jobs or Skilled Laborers.

      No. Liberia’s economy will never grow without industries.
      Liberia is completely backward compare to all the other west african countries; since President William Tolbert (1980). Do you people travel to see what others are doing in their countries?
      What is the problem with Liberia?

      God bless Liberia.

  3. Minister Tweah,

    Do you think you’ve been very smart here? Well, let’s see:

    “The Minister acknowledged significant reforms done in the fiscal and monetary spheres which have begun to yield positive results.”
    What are those reforms, your honor? What are the results?
    Printing of additional banknotes or embarking on contracting huge and unproductive debts to the detriment of the people?

    “He disclosed that the government is currently working with the World Bank to deliver on the pavement of the Ganta-Zwedru road corridor and that ‘yellow machines’ for the pavement will arrive during Dry Season of 2021.
    He added that the second stretch from Tappita to Zwedru is set for 2022.”
    Why not now?
    You promised to have constructed a coastal highway from Buchanan to Harper in the first 2 years of your term, done?
    Ooooooooh, I understand! You meant to construct the 3 Hebrew boys’s (Weah, McGill & Tweeh) houses within 2 years.
    You want to rig the next election under the pretext that you are working hard and so the Liberian people will renew your mandate in 2023. Wait and see.

    Have you also paid arrears owed to the poor working class? Please comment on our people’s meagre salaries next time.

    To all our people in the fishing industry, don’t be happy. They are fooling you. Things will stay at the same traditional levels. European and Asian companies will be given that money to enrich their economy, not ours. The conception and ideals are fraudulent. We will give people money to deplete our natural resources in our waters and we settle down for the crumbs. Then our children will have to reimburse those debts; “Monkey works, baboon draws”
    If they want to help us, Liberians, let them buy us one fishing boat. $3.7 million, after the cuts of the Hebrew boys, cannot buy us a standard and sizeable fishing boat.

    But don’t worry, we will really fix things. The hypocrisies and misdemeanors will come to an end, come 2023.
    Cummings and “apologists” greet you and understand your plight. Be strong and steadfast. I don’t care high long the night may last, daybreak is sure to come.

  4. As wise person once said, “A science of economics must be developed before a science of politics can be logically formulated. Essentially, economics is the science of determining whether the interests of human beings are harmonious or antagonistic. This must be known before a science of politics can be formulated to determine the proper functions of government.”

    I remember vividly in 1992 during the U.S presidential election, the late President George H.W. Bush got defeated by Bill Clinton when America was going through an economic recession. Candidate Bill Clinton campaign strategist, James Carville, came up with three key economic slogans: “Change vs. more of the same; the economy, stupid; don’t forget health care.”

    Liberia’s economic future is now at a crossroad. Will President Weah implement some key personnel changes? Will he bring on board more competent people, or, will he continue with “more of the same” incompetent people who have brought his government to ridicule both nationally and internationally?

    As the saying was in 1992 during the U.S. presidential election, “It is the economy, stupid,” so it is today in Liberia. It is all about Liberia’s deteriorating economy Mr. President. Bring on board a well-seasoned economist, as your Finance Minister.

    A Finance Minister with similar experience, knowledge, and credentials as Dr. Khwima Nthara, the current World Bank Country Manager to Liberia. Dr. Nthara has a good track record when he served his native Malawi as the World Bank Senior Economist to that country.

    Third, with all that money the World Bank is pouring into Liberia; don’t forget the health care sector. Without good health care, the children of Liberia will perish prematurely.

    As the wise person said, “A science of economics must be developed before a science of politics can be logically formulated.”

    Liberia’s problem is not only political. Liberia’s main problem is the President’s inability to find the right people who can logically and also practically formulate economic strategies to remedy Liberia’s economic crisis.

    • Mr. Conneh,

      Bringing in a new Finance Minister may sound obscene to the government. Note that the 3 Hebrew Boys (Weah, McGill and Tweah) are bound by a sacred oath. There is no way you can separate the trio. They nurtured, prepared and now living this dream together.

      However, what could be done is to form a seasoned team of Economic Advisory Council to the president with the objective to highlight key economic issues facing the country; inflation, microfinance, industrialization, etc. The current Finance Minister can then serve the role of an ‘Executioner” to make the country recover from the abyss it’s being plunged.

      Making big promises without any flair for economic planning may plunge Liberia into waves of violence. Read the news today about the German who was murdered in cold blood by (presumed) armed robbers in Buchanan. Such acts may multiply in the country if nothing is done to curb the difficult situations. We know Weah LIED to his partisans. He cannot deliver on anything whatsoever. They will end up killing and stealing from people if they cannot secured jobs to feed their families.
      Consequently, investors will leave, tourists will never come, no one will dare foot in Liberia to burn their hard-earned money.

      May God give this President the wisdom to do the right thing for Liberia, Amen!

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