Liberia seeks investment to expand fisheries and create jobs
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J. Cyrus Saygbe Sr., director general of the National Fisheries and Aquaculture Authority of Liberia, discussed investment opportunities with Valerie Hickey, director for environment and blue economy at the World Bank Group, in Bangkok, Thailand.
Saygbe presented progress from the Liberia Sustainable Management of Fisheries Project, a World Bank-funded initiative that has disbursed over 80% of its funds. He explained that Liberia needs further investment to build infrastructure and close gaps in fish processing, cold storage, and transportation.
Saygbe argued that additional funding would attract private sector involvement and keep more of the economic benefits from the fisheries sector within Liberia. He specifically highlighted opportunities in aquaculture and related services, and emphasized the importance of creating jobs and improving incomes for women and young people in fishing communities. Hickey acknowledged the project’s success and encouraged Liberia to maintain its progress through ongoing collaboration and investment.
Both officials agreed that combining public funding with private enterprise is crucial for strengthening investor confidence and developing a more competitive fisheries sector in Liberia. The National Fisheries and Aquaculture Authority stated its commitment to developing sustainable fisheries and aquaculture businesses.
