Resident Representative Kilo (left) and Mr. Mbonampeka (far right) with other staff of the institution.

07/05/2012 (Liberian Observer) - The African Development Bank (AfDB) has approved US$56 million to help Liberian farmers boost food security by producing more local consumer foods.

The disclosure was made May 3, 2012 at the Bank’s Liberia head office in Monrovia during a video conference by the institution’s Secretary General and Vice President, Cecilia Akintomide in Tunis, Tunisia.

The African Development Bank will implement this project under the program, Small Holders Agriculture Productivity Enhancement and Commercialization (SHAPEC).

The Country Program Officer of AfDB, Alain-Pierre Mbonampeka, said “The grant will help in cassava and rice production, enhance research in seed production, train farmers, and enhance commercialization of farm products.”

Mr. Mbonampeka noted that since the civil war in Liberia, farmers have not gained adequate support to enable them produce more food. This support, he added, is important if food security is to be ensured.

He added that the grant will also fund the creation of storage facilities to preserve agricultural produce.

Liberia, with its equatorial climate, has a favorable environment suitable for agriculture.  Liberia’s economy depends on agriculture and mining, and most of its citizens are heavily engaged in agricultural activity to survive.

Rice, cassava, plantain, palm oil, rubber, coffee and cocoa are among cash crops that are produced in Liberia.

However, bad road conditions and a lack of storage for preservation remain the challenges that discourage many farmers, and many are left with the option to produce at low scale.

The African Development Bank Country Program Officer also noted that the Small Holders Agriculture Productivity Enhancement and Commercialization (SHAPEC) will be seeking to encourage production for the local market rather than export.

Liberia became a founding member of the African Development Bank in 1964. It is exclusively headed by Africans but with members from other continents including Europe, Asia and America.

According to its Resident Representative, Margaret Kilo, Liberia’s fourteen years of instability caused the country to accrue more debt.

After the war, Mrs. Kilo said, “Liberia began to re-engage the bank in an effort to regularize its status; and considering the effect of war, [the bank] forgave the country for the debt accrued over the years”.

Mrs. Kilo told journalists at the conference that over the years the African Development Bank has been able to help Liberia with unspecified amounts of grant money to foster its development projects.

She named some areas the grant has positively affected as roads, agriculture, electricity, and equipping of government offices.

She told journalists that considering the country’s current status, the bank is convinced that the country can be granted loans instead of grants because its economy is progressing well in the areas of development and growth.

Mrs. Kilo further noted that systems have been put into place to govern the use of funds given countries whether in grants or loans.

She indicated that when the AfDB lends money to a country, the bank ensures that procurement procedures are properly followed, service providers well identified, and payment of service provider done directly by the bank following completion of the task or contract.

The Secretary General and Vice President of the AfDB, Cecilia Akintomide, who chaired the conference, said this year’s annual meeting will be held under the theme, Africa and the Emerging Global Landscape:  Challenges and Opportunities.

“Africa’s economy is projected to grow at 6% in 2012; and being considered least attractive for investment [in decades past], is now the most appealing region for many investors.

Madam Akintomide noted that the growth in Africa’s economy is primarily the result of the discovery of new resources, improvement in political leadership, policy reforms, and a growing middle class that is changing the socio-economic dynamics and exerting concerted changes on the business landscape of the continent.

Some of the issues to be discussed in the May 30 meeting in Tanzania include:  Opportunities and Challenges of the Global Financial Crisis, Greening the Economy (opportunity for growth), Emerging Issues in African Economies, Good Financial Governance in Africa, How to Graduate from Aid, Africa Transforming Africa, and a dialogue on the topic, “Most Companies Die Young:  What do they need to survive and grow?”