Finance Ministry, Others Brainstorm
Monrovia, Liberia – Through the Ministry of Finance and Development Planning (MFDP), Civil Society, and other partners, the Liberian government has started the ARREST Agenda for Inclusive Development (AAID) Validation drafting process. The ultimate goal of the AAID is to improve the economic and the human development indicators of our people.
Speaking on Wednesday, November 5, 2024, at the EJS Minister Complex in Congo Town, Augustine Kpehe Ngafuan, Minister of Finance and Development Planning, stated that the process of creating the draft Plan was extremely inclusive and collaborative from the beginning.
He noted that the national and sub-national consultation process was started on July 18, 2024, by President Joseph N. Boakai, who prioritized a bottom-up strategy.
“The Ministry of Finance, Planning, and Development Planning is grateful for the response, support, and goodwill received during the formulation process. The Draft AAID we are validating today is the result of a series of consultative meetings that we have held throughout the country.”
According to Liberia’s Finance Minister, the medium-term development agenda is primarily driven by “ARREST” agriculture with an emphasis on agribusiness value chains and places a strong emphasis on ICT, energy, sea ports, and air transportation infrastructure, including roads.
The AAID places more focus on good governance, including maintaining the rule of law and bolstering the battle against corruption, according to Minister Ngafuan.
It addresses the whole education value chain, from early childhood education to basic, secondary, higher education, and TVET, and it aims to enhance health outcomes through WASH, he noted.
According to the Minister, US$2,28 billion (30%) of the Plan’s estimated USD $7,6 billion cost would come from the GoL.
“The development stakeholders such as the private sector are expected to contribute US$ 2,6 billion (35%), Official Development Assistance (ODA) is estimated at US$ 1,9 billion (25%) and remittances from diaspora is US$ 761 million (10%),” Minister Ngafuan noted.
He explained that everyone has a part to play in the growth of the country, citing the private sector, development partners, domestic and diasporic Liberians, civil society, and young people as examples.
According to J. Wellington Perchue I, the MFDP Assistant Minister for Development, Minister Ngafuan’s declared projected sum of US$7.6 billion for the draft development plan is only a first estimate.
According to the Assistant Minister for Development Planning, the ultimate number of the National Development Plan will be decided upon by stakeholders, development partners, and actors at the table and disclosed during the plan’s launch.
According to him, the suggested amount would decrease based on consultation and the findings of the ongoing validation exercise.
