19 avril 2024

World Bank funds US$40 million for Liberia's fisheries

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Liberia has been receiving aid in the fisheries sector because of its potential in this sector. It has an artisanal and industrial fleet. The World Bank has provided $40 million in funding to develop the sector in this country. Half of this budget, i.e. 20 million dollars, is a grant for the implementation of the Liberia Sustainable Management of Fisheries Project (LSMFP).

The project targets a number of areas including: aquaculture development, training, management, value addition and livelihood improvement for fishers and processors, and improved food security.

Among other things, the project could create an industrial and artisanal landing site at Mesurado Pier in Monrovia. Other artisanal landing sites could be established in Margibi, Maryland, Grand Bassa, Sinoe and Grand Kru counties. It will also fund the development and rehabilitation of the Klay hatchery in Bomi County and the establishment of the Farmers Field School (FFS).

Prior to this funding, Liberia received a $75,000 grant from Japan in March.

Fishing is a sector that contributes greatly to food security and employment in the country. The sector provides 65% of Liberians' animal protein needs and contributes 12% of the country's gross domestic product. The sector provides employment opportunities for more than 33,000 fishermen, fishmongers, processors, of which nearly 60% are women.   

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Photo Credit : Le Devoir