IPNEWS: The Legislature of Liberia has approved a USD 40 million (EUR 35.6 million) financing deal between the West African country and the World Bank’s International Development Association (IDA) for the implementation of the Liberia Sustainable Management of Fisheries Project (LSMFP).
The approval by both the Liberian House of Representatives and Senate comes weeks after IDA and Liberia announced the financing, which includes a USD 20 million (EUR 17.7 million) grant and USD 20 million (EUR 17.7 million) in credit. The approval paves way for the establishment of an industrial and an artisanal fish-landing site on the Mesurado Pier in Monrovia, and other artisanal landing sites in Margibi, Maryland, Grand Bassa, Sinoe, and Grand Kru counties, according to a World Bank statement.
“This project will also support aquaculture development and strengthens management and governance of the fisheries sector in Liberia, developing human and institutional capacity, and improving policies, strategies, institutional and legal frameworks,” the World Bank said.
World Bank Country Manager in Liberia Khwima Nthara said the West African country’s fisheries sector has “huge potential and the project is expected to have a transformational impact on livelihoods, but also in a sustainable way.”
Components of the LSMFP include the development and rehabilitation of the Klay hatchery in Bomi County “as a suitable fish hatchery model and aquaculture research center equipped with a standard laboratory for conducting research on fish feed, fingerling production, testing water quality and fish disease.”
The project also entails the establishment of the Farmers Field School and model farmer scheme that will facilitate knowledge sharing among farmers and extension technicians.
Task Team Leader Fisseha Tessema Abissa said the project would “contribute to the provision of economic returns from market sales for both, the government and fishermen, jobs for Liberians, livelihoods to the communities, and above all, food for the people of Liberia” once completed.
“In all these expected outcomes, the center of focus will be building a climate resilience community and ensuring sustainability – ecological, economic and social,” Abissa said.
