The Ministry of Finance and Development Planning (MFDP) and the Korea International Cooperation Agency (KOICA) have signed a Memorandum of Understanding (MOU) aimed at deepening development cooperation between the two nations.
According to a release dated November 11, 2024, the agreement marks a significant milestone in Liberia’s continued efforts to build a strong partnership with the Republic of Korea, focusing on key sectors such as education, information communication and technology (ICT), agriculture, and energy.
The MOU provides KOICA with a formal legal framework to expand its operations in Liberia, ensuring that the agency can effectively carry out its development programs and initiatives in the country over the next three years. As part of the agreement, KOICA will provide scholarship opportunities to Liberian professionals in sharpening their skills for greater output.
Speaking at the signing ceremony, Deputy Minister for Fiscal Affairs Anthony G. Myers noted that the MOU is a vital step in strengthening the ongoing partnership between Liberia and the Republic of Korea.
Minister Myers said he is hopeful that through the collaboration, Liberia will benefit from expanded development assistance in key sectors that will directly impact the livelihoods of our citizens.
“We are committed to ensuring that all anticipated activities under this MOU are implemented effectively and efficiently,” Deputy Minister Myers said.
He narrated that the agreement aligns with the Government of Liberia’s broader development agenda, focusing on critical areas such as improving the quality of education, expanding access to ICT, boosting agricultural productivity, and ensuring sustainable energy solutions for all Liberians.
During the signing ceremony, Minister Myers highlighted the importance of ICT to all major sectors in Liberia. He named agriculture and mining as two critical sectors that can be improved by ICT.
For his part, Republic of South Korea Ambassador to Liberia His Excellency Kim Pan-kyu recounted the long years of friendship subsisting between the two countries dating back to the 1960s. Ambassador Pan-kyu underscored the relationship the two countries share built on mutual respect and cooperation.
“This year makes it 60 years since Liberia and Korea began this relationship, and the signing of this MOU is a testimony of this mutual relationship,” he added.
Amb. Pan-kyu, “Through this renewed partnership with KOICA, we are reaffirming our commitment to Liberia’s development, and we look forward to working closely with the government and people of Liberia to achieve our shared goals.”
