Monrovia, Liberia – In an effort to strengthen their development collaboration, the Korea International collaboration Agency (KOICA) and the Ministry of Finance and Development Planning (MFDP) have formally signed a Memorandum of Understanding (MOU).
With an emphasis on important areas including education, information and communication technology (ICT), agriculture, and energy, this agreement represents a major turning point in Liberia’s ongoing efforts to forge a solid cooperation with the Republic of Korea.
The MOU guarantees that KOICA may successfully implement its development programs and initiatives in Liberia during the ensuing three years by giving the organization a clear legal framework to grow its activities there. The agreement states that KOICA would offer scholarship possibilities to Liberian professionals so they may hone their talents and produce more.
“The MOU is an important step in strengthening the ongoing partnership between Liberia and the Republic of Korea,” said Anthony G. Myers, Deputy Minister for Fiscal Affairs, during the signing ceremony on Monday.
He is optimistic that this partnership would provide Liberia with more development aid in important areas that will have a direct effect on our residents’ quality of life.
Deputy Minister Myers declared, “We are dedicated to making sure that all expected activities under this MOU are carried out effectively and efficiently.”
The agreement, according to Deputy Minister Myers, is in line with the Government of Liberia’s larger development agenda, which emphasizes important areas like raising agricultural productivity, expanding access to ICT, enhancing educational quality, and guaranteeing sustainable energy solutions for all Liberians.
Hon. Myers emphasized how crucial ICT is to Liberia’s key industries. He identified two crucial industries that ICT might enhance: mining and agriculture.
The ambassador of the Republic of South Korea to Liberia, for his part His Excellency Kim Pan-kyu recalled the two nations’ longstanding alliance, which dates back to the 1960s. Ambassador Pan-kyu emphasized the mutual respect and collaboration that underpin the two nations’ relationship.
“This year makes it 60 years since Liberia and Korea began this relationship, and the signing of this MOU is a testimony of this mutual relationship. Through this renewed partnership with KOICA, we are reaffirming our commitment to Liberia’s development, and we look forward to working closely with the government and people of Liberia to achieve our shared goals.”
Mr. Son Sungil, the Country Director of KOICA, signed on behalf of KOICA, while the Deputy Minister for Fiscal Affairs signed on behalf of the Ministry of Finance and Development Planning.
Deputy Finance Minister for Budget and Development Planning Hon. Tanneh Brunson, Assistant Minister for External Resources and Debt Management Hon. Alice Williams, Minister of Mines and Energy Hon. Wilmot Paye, and Minister of Post and Telecommunications Hon. Sekou Kromah attended the signing ceremony.
It is anticipated that the MOU will open up new avenues for cooperation and growth, resulting in a stronger and more significant partnership between Liberia and the Republic of Korea.
