Monrovia, Liberia – Increasing domestic resource mobilization is essential for growth and development in all areas, according to Augustine K. Ngafunan, Liberia’s Finance and Development Planning. He disclosed this when the Chinese delegation met his senior management team during a courtesy visit at the Ministry of Finance and Development Planning on Monday, November 4, 2024.
Increased mobilization of domestic resources across all sectors, according to Minister Ngafuan, will strengthen the social contract between the government and its constituents, lessen reliance on aid, and provide more stable and fiscal fiscal revenues. Minister Ngafuan went on to say that doing this will strengthen public control and supervision of budgetary revenue utilization.
“The leadership of President Boakia is committed to increasing domestic resources across all sectors that will align with the National Development Agenda for inclusive growth and development.”
He praised the Chinese government through the delegation for supporting Liberia’s health and education sectors. “Your support over the years has been a source of hope for Liberians across the health and education sectors.”
“To address the two major binding growth limits, we are collaborating with our development partners. Roads and energy are the two major limiting factors that require a strong turn for our nation. With a score of 14 out of 20, we are eligible for Compact Two, which is what the Liberian government is presently striving for.”
“Since our people deserve better lives, it is our responsibility to keep demonstrating progress to them, and we are taking significant steps in that direction.”
In order to increase power generation by using solar power, Minister Ngafuan pointed out that the new cost of hydro-energy building on the St. Paul River will be around 800 million US dollars.
“We are going to make some reforms to the electricity facility across the country and try to strengthen accountable institutions like the General Auditing Commission, which has been rolling out many audit processes.”
The Chinese delegations praised Hon. Ngafuan for his steadfast leadership role-play as finance and development Planning Minister.
China is committed to working with you through whatever infrastructure development to foster growth and development.
According to Ambassador YIN Chengwu, Ambassador of the People’s Republic of China, China will continue to support the Liberian government efforts in realizing its development potential.
‘’We are willing to support any of your national development and infrastructure projects across Liberia’’ Amb. YIN explained.
China and Liberia enjoy friendly relations. In recent years, the Chinese and Liberian people have stood together in the joint fight against Ebola and COVID-19 and engaged in sincere cooperation in the cause of national development, adding new dimensions to bilateral relations
Liberia and China’s cooperation has been growing since the resumption of bilateral cooperation in 2003 and the continuous peace-building in Liberia. In 2012, the Chinese government offered 95% of Liberia’s exports to China with duty-free treatment.
Reported by: Prince Saah
Contact: +231778239813
Email: saahprince119@gmail.com
