WASHINGTON, September 22, 2021 – The World Bank approved new funding to improve the management of the fisheries sector in Liberia, improve the livelihoods of targeted beneficiaries and increase government revenues. The Liberia Sustainable Management of Fisheries Project (LSMFP), funded by the International Development Association (IDA) for an amount of $ 40 million ($ 20 million grant and $ 20 million credit)), improve the conditions of fishermen and women, increase export value addition and help address the economic vulnerability of the Liberian economy to climate change and food security vulnerability.
LSMFP will support the establishment of an industrial and artisanal landing site at Mesurado Pier in Monrovia, and other artisanal landing sites in Margibi, Maryland, Grand Bassa, Sinoe and Grand Kru counties. This project will also support the development of aquaculture and strengthen the management and governance of the fisheries sector in Liberia, developing human and institutional capacities and improving policies, strategies, institutional and legal frameworks.
“Given the enormous potential of the fisheries sector in Liberia, this project is expected to have a transformational impact on livelihoods, but also in a sustainable way â, noted Dr. Khwima Nthara, World Bank Country Manager in Liberia.
This fisheries project will also fund the development and rehabilitation of the Klay Hatchery in Bomi County as a suitable hatchery model and aquaculture research center equipped with a standard laboratory to conduct feeding research. fish, fingerling production, water quality testing and fish diseases. In addition, the project will support the establishment of Farmers Field School (FFS) and a model farmer program that will facilitate knowledge sharing between farmers and extension technicians.
“This project helps provide economic income from market sales for government and fishermen, jobs for Liberians, livelihoods for communities and most importantly, food for the people of Liberia. In all of these expected outcomes, the focus will be on creating a community of climate resilience and ensuring sustainability – ecological, economic and social â, noted Team leader Fisseha Tessema Abissa.
The main beneficiaries of the project are the fishing communities, fish processors and sellers, and fish consumers. These include a large fishing community of over 11,000 fishermen who directly support approximately 56,000 people using approximately 3,300 canoes. The general Liberian population will also benefit from the project’s contribution to improving fish productivity, food security, job creation and broadening the economic base.
âThis $ 40 million fishing project represents a unique opportunity for at least 300,000 vulnerable low-income Aboriginal fishermen; thus increasing their daily income and strengthening food security for the entire population of Liberia through its climate smart approach activities â, noted Ms. Emma Metieh Glassco, Director General, National Fisheries and Aquaculture Authority of Liberia.
Since the start of the COVID-19 pandemic, the World Bank Group has committed more than $ 125 billion to combat the health, economic and social impacts of the pandemic, the fastest and most rapid response to the crisis. important in its history. The funding is helping more than 100 countries strengthen their pandemic preparedness, protect the poor and jobs, and launch a climate-friendly recovery. The Bank is also providing $ 12 billion to help low- and middle-income countries purchase and distribute COVID-19 vaccines, tests and treatment.