Press Release:  Tuesday, May 28, 2024: Ceremony for the official launch of Liberia’s MSMEs Growth Accelerator Program was held Tuesday at the Ministry of Commerce and Industry, EJS Ministerial Complex in Congo Town, Liberia.

Speaking at the program, Commerce and Industry Minister, Amin Modad welcomed the support of the UNDP, EU, Swedish Embassy and other development partners to ongoing efforts to boost the business climate in Liberia.

He said the involvement of these development partners gives a sense of relief to Liberia and that such partnership plays a central role in developing a vibrant private sector.

He said the Ministry of Commerce and Industry is committed to developing programs that focuses on   targeting specialized sectors with MSMEs, agriculture and various value chains.

“This is where Liberia’s competitive advantage lies and that’s where our agenda should be focused and developing inclusive and vibrant economy,” Minister Modad added.

He welcomed the partnership between the Ministry of Commerce and Industry as demonstrated by the presence of the various institutions on Tuesday, May 28, 2024, program.

He observed that such partnership would be used as the basis and impetus for greater collaboration for the development of a vibrant Liberian private sector.

Minister Modad called for a renewed commitment not only to alleviate poverty, but wealth creation in a centralized program that prioritizes women and youth.

Besides the two groups being the most vulnerable in the Liberian society, he said that they are the foundation for any growth and the development agenda Liberia has. 

He assured the partner institutions that as they play their required roles, the Liberian government stands ready to equally perform its.

For his part, the UNDP Resident Representative to Liberia, Louis Kuukpen said he was honored to form part of the launching ceremony of Growth Accelerated Competitive Program (Cohirt 4).

Mr. Kuukpen added that the program demonstrates that it has the potential to revitalize the MSMEs landscape of Liberia by providing jobs and employment opportunities, income and livelihood and contributing to the overall GDP of the country.

Speaking further, the UNDP Resident Representative to Liberia noted that such idea promotes an environment that is economically and productively viable.

Mr. Kuukpen also indicated that support to women-owned MSMEs play a pivotal role to narrow the social and gender gaps.  “I would like to congratulate and acknowledge the partnership our private sector and International Bank of Liberia Limited, the United Bank for Africa, ECO Bank Liberia and Bloom Bank for the great strives that they have all made in the business environment and the economy of Liberia,” Mr. Kuukpen added.

Meanwhile, a representative from the Swedish Embassy near Monrovia said the empowerment of local entrepreneurs plays a key role in improving the economy of any country.

He said the Swedish Embassy is keen about how young people in Liberia are empowered to improve their living standards.