Liberia $20m fisheries deal

The project will improve the management of fisheries, making them both more efficient and sustainable. It’s hoped the move will enhance the living conditions of beneficiary communities, creating better incomes and new opportunities for over 55,000 people, including women and children.

Fisheries are one of the main sources of income in Liberia and generate around 10% of the agricultural sector’s production and 3% of the country’s GDP.

The Sustainable Management of Fisheries Project will cover nearly 90% of Liberia’s coastline in the six counties Montserrado, Margibi, Maryland, Grand Bassa, Sinoe and Grand Kru.

It is designed to improve the ecosystem of fisheries, promote sustainability, increase the volume of fish landings and create more than 2,000 jobs.

The fisheries project also will help to implement climate-smart technologies and climate-resilient business improvements and infrastructure.

OPEC Fund Director-General Dr Abdulhamid Alkhalifa said the development institution was pleased to partner with the World Bank to support Liberian fisheries, boosting livelihoods and empowering women.

“Ensuring the productivity of fisheries and reducing post-harvest losses will not only improve living conditions and reduce economic vulnerability, but also contribute to food security and climate adaptation in Liberia,” he said.

The OPEC Fund’s technical assistance grant financing will specifically support 6,600 women through financing and training, with fisheries traditionally providing a significant source of employment for women and other vulnerable groups in Liberia.

They will receive training in post-harvest value systems, business development and financial management to sustain and further grow their businesses.

The project includes the design and implementation of improved management systems for coastal fisheries and associated fleets, including large artisanal fleets at Kru and Fante, along with a smaller number of industrial and semi-industrial fleet operations.

It will also improve the fishing harbour infrastructure at Mesurado Pier, help construct industrial and artisanal fleet facilities such as fish landing sites, fish value chain facilities such as market halls, and storage and processing facilities as well as access roads and services.

Established in 1976, the OPEC Fund for International Development is the only globally-mandated development institution that provides financing from member countries to non-member countries exclusively. To date, it has committed more than $22 billion to development projects in over 125 countries with an estimated total project cost of $187 billion.