Reported by: Prince Saah
Monrovia, Liberia – United Nations Resident Coordinator Christine N. Umutoni has urged Liberia to move beyond dependence on traditional development assistance and build a financing model centered on domestic resources, private investment, climate finance and innovative partnerships.
Speaking Tuesday, August 12, 2024, at the National Steering Committee meeting on the ARREST Agenda for Inclusive Development (AAID), Umutoni said Liberia must adapt to a changing global development environment in which official development assistance is declining and traditional donors are increasingly recalibrating their priorities.
She said the country must transition from “funding development to financing development” while moving away from fragmented projects toward large-scale investments capable of transforming the national economy. “Countries are competing not only for dwindling aid, but for investment. Liberia must adapt,” Umutoni said.
The UN Resident Coordinator, who serves as Deputy Chair of the AAID National Steering Committee, said the key question for Liberia should no longer be only who will finance development programs, but how those programs can be structured to attract different sources of capital. She pointed to the proposed Integrated National Financing Framework and Development Cooperation Policy being advanced by the Ministry of Finance as important instruments for creating a new architecture for development partnerships.
According to Umutoni, the framework could help bring government, development partners, international financial institutions, investors, foundations, the private sector and the Liberian diaspora around nationally defined priorities. Push for Transformational Investments, Umutoni also called for a shift from small-scale projects to nationally owned flagship investments capable of attracting financing and partnerships at scale.
Moreover, she identified human capital development, economic transformation, food systems, digital transformation and climate resilience as areas where Liberia could develop catalytic investments capable of changing the country’s development trajectory. She argued that Liberia possesses several assets that could strengthen its investment proposition, including its young population, natural resources, strategic location, peace record, democratic resilience and growing international visibility.
The UN envoy said Liberia’s current membership on the United Nations Security Council also presents an opportunity to tell a different story about the country and promote it as a destination for investment and international partnerships. “Liberia should be open for business, and the world should know it,” she declared.
While acknowledging progress under the AAID, Umutoni said many Liberians continue to face limited economic opportunities, inadequate services and livelihood challenges. She therefore called for accelerated implementation so that the benefits of the government’s development agenda reach every county and community.
However, the UN head commended President Joseph N. Boakai and his administration for maintaining the AAID’s partnership and coordination structure, saying the annual National Steering Committee meeting provides an important platform for reviewing performance across government, identifying bottlenecks and making necessary corrections.
She noted that development planning and delivery are increasingly reaching communities, decentralization efforts are advancing, and there are encouraging efforts to mobilize domestic resources around national priorities.
Moreever, she cautioned that early gains must now translate into broader and more measurable transformation. Umutoni described Liberia’s predominantly young population as the country’s greatest asset, but warned that it can only become an engine of economic growth if properly supported. Speaking, she called for increased investment in education, skills development, employment, health, economic empowerment for women and men, and digital inclusion.
Photo credit: Executive Mansion
