Pres. Weah Proposes Inclusive Finance Regime
President George Manneh Weah has proposed a new program dubbed the ‘New Life Program for Inclusive Finance’ (NLPIF). The program will be subject to legislation where applicable.
According to a dispatch from Dakar, President Weah made the disclosure when he spoke during his visit to his Senegalese counterpart, President Macky Sall. The Liberian leader said the program is geared towards the promotion of transparency and the fast-tracking of development and growth while ensuring that the special needs of the citizenry are implemented with direct supervision from the Office of the President. The program will also seek to establish a Special Development Fund under the Office of the President.
As proposed by the President, The New Life Program for Inclusive Finance (NLPIF) shall not receive funding from the National Budget but instead will be funded by grants, loans, donations and other financial assistance or aid received from international organizations, foreign governments or agencies and other institutions, including foreign and local non-governmental agencies.
The dispatch furthered, the program will seek to ensure that all funds obtained from donors shall constitute public property and be subject to all laws applicable to the use and accountability of public funds; including internal and external audit procedures; but will not form part of the state’s treasury.
President Weah said the NLPIF will be under the management of an Executive Director, who shall be appointed by the President, and other senior managers as deemed necessary for the smooth, proper, and efficient management of the Fund in accordance with conventional and best practice for such institutions.
Meanwhile, President Weah also met with former British Prime Minister, Tony Blair during his visit to Dakar, Senegal. Former Prime Minister Tony Blair said that the meeting was to reassure his support and commitment to the success of the Weah-led administration.
He said it was a pledge he made when he initially called to congratulate then President-elect Gorge Weah. Mr. Blair informed President Weah that his organization, the African Governance Initiative (AGI) has been working in Liberia and would like to continue its work under the CDC administration. Mr. Blair recounted the generic problems faced by most developing countries and that of the 30 countries his organization operates in, which he outlined as infrastructure, electricity, agriculture, basic education, and health.
Mr. Blair assured President Weah that if called upon, he would be willing not only to give advice but help with policies as well as galvanize funds through different channels other than the traditional financing medium that most developing countries may have followed for many years.
For his part, President Weah commended Mr. Blair for his leadership and work in Liberia and other developing countries. The Liberian leader applauded the British Statesman for offering his support to the new administration when called upon and informed him that his assistance will be greatly needed in implementing his pro-poor agenda.
President Weah also met members of the ECOWAS Parliament and thanked them for their work towards sustainable development and growth in Africa; their efforts aimed at fostering peace and stability within the ECOWAS region and Africa at large. The President officially extended farewell to the regional body and expressed profound gratitude to them for accommodating him as one of their members when he served as Head of the Liberian Delegation to the ECOWAS Parliament.
Later in the evening, the ECOWAS Parliamentarian Women Wing paid a courtesy visit on President Weah to officially congratulate him on his milestone achievement as President of Liberia and to wish him success as he steers the state of affairs of the Liberian people.