The Ministry of Finance and Development Planning (MFDP) and the Korea International Cooperation Agency (KOICA) have officially signed a Memorandum of Understanding (MOU) to deepen development cooperation between the two nations.
This 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 the agency can effectively carry out its development programs and initiatives over the next three years. As part of the agreement, KOICA will provide scholarship opportunities to Liberian professionals to sharpen their skills for greater output.
At the signing ceremony on Monday, 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.
He is hopeful that through this collaboration, Liberia will benefit from expanded development assistance in critical 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.
Deputy Minister Myers said the agreement aligns with the Government of Liberia’s broader development agenda, focusing on critical areas such as improving education quality, expanding ICT access, boosting agricultural productivity, and ensuring sustainable energy solutions for all Liberians.
Hon. Myers highlighted the importance of ICT to all significant sectors in Liberia. He named agriculture and mining as two critical sectors that ICT can improve.
For his part, the Republic of South Korea Ambassador to Liberia, His Excellency Kim Pan-kyu, recounted the long years of friendship 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 said, “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.”
The Deputy Minister for Fiscal Affairs signed on behalf of the Ministry of Finance and Development Planning. In contrast, the Country Director of KOICA, Mr. Son Sungil, signed on behalf of KOICA.
The signing ceremony was attended by the Minister of Mines and Energy, Hon. Wilmot Paye, the Minister of Post and Telecommunications, Hon. Sekou Kromah, the Deputy Finance Minister for Budget and Development Planning, Hon. Tanneh Brunson, and the Assistant Minister for External Resources and Debt Management, Hon. Alice Williams.
The MOU is expected to facilitate further collaboration and development opportunities, fostering a deeper and more impactful relationship between Liberia and the Republic of Korea.
