Monrovia — The World Bank has called for increased private sector investment in Liberia's fisheries sector, describing it as critical to unlocking jobs, boosting revenues, and ensuring long-term economic growth.
Speaking at the opening of Liberia's first National Fisheries Investment Conference, World Bank Liberia Country Manager Georgia Wallen emphasized that sustainable investment is key to transforming the sector into a major driver of the country's economy.
The conference, which brought together government officials, development partners, private sector actors, and academia, aims to position Liberia's fisheries and aquaculture industries as viable and competitive investment destinations.
Wallen noted that since 2021, the World Bank has been supporting Liberia in shaping a people-centered fisheries agenda that prioritizes coastal communities, artisanal fishers, women, and youth.
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"Investments are critical because they create income for the people, drive growth, and build long-term wealth for the country," she said. "They also provide incentives for the sustainable management of fisheries resources and aquaculture."
She highlighted the World Bank's Liberia Sustainable Management Fisheries Project as a cornerstone of efforts to reposition the sector, outlining five key areas of intervention designed to make fisheries more "investment-ready."
According to Wallen, the first focus is on human capital development, including support to the University of Liberia to establish a modern fisheries academic program aimed at training the next generation of professionals in the sector.
The second area involves strengthening stakeholder participation, with targeted support to aquaculture farmers and women entrepreneurs through training, grants, and improved access to sustainable practices and financial opportunities.
She also pointed to catalytic investments such as the Klay hatchery, the introduction of the country's first semi-industrial fishing vessel "Sea King," and an incubator program for new canoes as initiatives intended to attract private sector interest.
Additionally, the World Bank is supporting digitization and modernization within the National Fisheries and Aquaculture Authority (NaFAA), including the establishment of a one-stop service center for fishers and processors, alongside enhanced monitoring and surveillance systems to improve transparency and governance.
Wallen further underscored the importance of developing a comprehensive fisheries strategy, supported by an aquaculture roadmap and a public-private partnership framework, to sustain long-term investment in the sector.
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"These efforts send a clear signal that Liberia is ready to build a well-governed, commercially viable, and environmentally sustainable fisheries economy," she said.
She added that the sector holds significant potential not only to create jobs--particularly for women and young people--but also to contribute meaningfully to national economic growth while safeguarding marine resources.
Wallen concluded by commending the leadership of the National Fisheries and Aquaculture Authority, headed by Director J. Cyrus Saygbe, Sr. and encouraged stakeholders to seize the opportunities presented by the conference to advance the sector.
The National Fisheries Investment Conference is expected to lay the groundwork for increased collaboration between the government and private investors, with a focus on driving sustainable development in Liberia's fisheries industry.
