The Director General of the National Fisheries and Aquaculture Authority (NaFAA), J. Cyrus Saygbe, Sr., has held high-level discussions with Madam Valerie Hickey, Director for Environment and Blue Economy at the World Bank Group.
The meeting, according to a release, was to expand fisheries investment to attract private businesses, create jobs, and strengthen livelihoods in Liberia.
It was held on the sidelines of the 2026 Annual Meetings of the International Monetary Fund, and the World Bank Group in Bangkok, Thailand.
Discussions centered on progress under the Liberia Sustainable Management of Fisheries Project (LSMFP) and the investment needed to translate these achievements into economic opportunities.
In his briefing note to Madam Hickey, Saygbe highlighted advances under the World Bank-supported project in fisheries management, aquaculture development, livelihood support, and preparations for critical infrastructure investments.
He reported that project disbursement had exceeded 80 percent, and emphasized the importance of sustaining implementation momentum.
Saygbe stressed the need for continued financing for infrastructure, productive capacity, and fisheries value chains to consolidate the gains, and create conditions for greater private sector participation.
He identified opportunities for commercial investment in aquaculture, fish processing, cold storage, transportation, fisheries infrastructure, and related services.
He noted that addressing infrastructure gaps, and strengthening the business environment would enable investors to establish, and expand enterprises while keeping more economic value in Liberia.
Saygbe emphasized the need for investment to deliver practical benefits for Liberians, particularly women and young people. The benefits, he explained, should include employment, enterprise development, increased productivity, and improved incomes in fisheries-dependent communities.
Saygbe further highlighted the sector’s potential to contribute more substantially to national economic growth, food and nutrition security, and economic diversification through sustainable fisheries management and aquaculture expansion.
Madam Hickey meanwhile, commended the progress achieved under the LSMFP. She described its implementation trajectory as a remarkable turnaround.
She also emphasized the importance of sustaining the momentum through continued collaboration and investment.
Madam Hickey also underscored the private sector’s role in driving economic growth, and creating jobs.
She highlighted the need for conditions that allow businesses to invest, innovate, expand production, and generate employment.
The discussions emphasized the complementary roles of strategic public investment, and private enterprise in advancing Liberia’s fisheries sector. Investment in infrastructure, institutional capacity, sustainable resource management, and value addition to strengthen investor confidence, and support more productive and competitive fisheries businesses.
The engagement reaffirmed the importance of cooperation between the Government of Liberia and the World Bank Group in consolidating project achievements, and exploring opportunities for expanded investment.
According to an official NaFAA press release, the Authority remains committed to transforming Liberia’s fisheries and aquaculture potential into sustainable businesses, improved livelihoods, and job opportunities, while safeguarding the resources that sustain fishing communities.
