By Linus Flomo
The Ministry of Finance and Development Planning (MFDP) and the Korea International Cooperation Agency (KOICA) have signed a Memorandum of Understanding (MOU) to deepen their development cooperation.
The agreement, finalized this week, marks a major milestone in Liberia’s partnership with the Republic of Korea, with a focus on key sectors vital to Liberia’s growth and future prosperity.
The MOU sets the stage for an expanded Korean presence in Liberia, outlining a framework for the implementation of development programs in education, information and communications technology (ICT), agriculture, and energy.
Over the next three years, the collaboration is expected to facilitate technical assistance, capacity-building initiatives, and scholarship opportunities aimed at advancing the skills of Liberian professionals.
At the signing ceremony, Liberia’s Deputy Minister for Fiscal Affairs, Anthony G. Myers, emphasized the transformative potential of the agreement.
He noted that the MOU aligns closely with Liberia’s broader national development agenda, particularly in improving educational outcomes, expanding ICT infrastructure, boosting agricultural productivity, and exploring sustainable energy solutions.
“This partnership is not just about enhancing technical cooperation,” Deputy Minister Myers remarked. “It’s about empowering our people ensuring they have the tools, the skills, and the opportunities to make meaningful contributions to Liberia’s development.”
He also stressed the critical importance of ICT, noting its potential to modernize sectors like agriculture and mining, which are central to the nation’s economy.
The MOU also includes provisions for scholarships, enabling Liberian professionals to pursue advanced studies and return with enhanced expertise to help drive national development.
In his remarks, the Ambassador of the Republic of South Korea to Liberia, His Excellency Kim Pan-kyu, highlighted the deep historical ties between the two nations, which date back to the 1960s.
As Liberia and South Korea celebrate 60 years of diplomatic relations, Ambassador Pan-kyu expressed his country’s ongoing commitment to supporting Liberia’s growth and development.
“Through this renewed partnership, we are reaffirming our shared vision and mutual respect,” Ambassador Pan-kyu said. “The cooperation between Liberia and Korea has always been a symbol of trust and solidarity, and we look forward to continuing our joint efforts to help Liberia achieve its development objectives.”
The MOU was signed by Deputy Minister Myers on behalf of the MFDP and KOICA’s Country Director, Son Sungil, on behalf of the Korean agency.
The event, which took place at the Ministry of Finance in Monrovia, was attended by several prominent Liberian officials, including Minister of Mines and Energy Wilmot Paye, Minister of Post and Telecommunications Sekou Kromah, Deputy Finance Minister for Budget and Development Planning Tanneh Brunson, and Assistant Minister for External Resources and Debt Management Hon. Alice Williams.
The collaboration is expected to provide a significant boost to Liberia’s development efforts, with KOICA’s expanded presence bringing much-needed expertise and resources.
The agreement marks not only a renewed commitment from South Korea to Liberia’s growth but also an opportunity for both nations to build on their longstanding relationship and work towards shared goals.
The signing of the MOU signals a new chapter in Liberia’s development, as the government looks to strengthen its partnerships with international stakeholders to address the country’s most pressing challenges.
This expanded cooperation with South Korea promises to offer Liberia critical support in transforming key sectors, paving the way for more sustainable growth and improved livelihoods for Liberians in the years ahead.
