MRISS believes that these measures will help MRU countries reduce aid dependency and achieve sustainable economic development.
Monrovia – The Mano River Institute for Strategic Studies (MRISS), led by Founder and Executive Director Mr. George Tenessee Nimely, is calling on the Mano River Union (MRU) countries to diversify their funding sources and focus on self-reliance.
By Selma Lomax [email protected]
Acknowledging the challenges posed by USAID aid suspension, MRISS views it as an opportunity for the MRU countries to reduce their dependency on external aid and strengthen their economies.
Each MRU country should develop its own approach to the suspension, according to MRISS. Liberia has launched an initiative to mobilize domestic resources, focusing on increasing tax revenue, improving public financial management, and implementing austerity measures.
Sierra Leone is prioritizing private sector development, including infrastructure investments and better access to finance.
Guinea is focusing on strengthening institutional capacity, while Côte d’Ivoire is emphasizing regional integration as a strategy for self-reliance.
Despite these varying approaches, MRISS identifies common themes: reducing external aid reliance, enhancing institutional capacity, mobilizing domestic resources, and fostering private sector development.
To support MRU countries in diversifying their funding sources and promoting self-reliance, MRISS has outlined several recommendations including strengthening Domestic Resource Mobilization: Increase tax revenue, improve public financial management, and attract private sector investment; promoting Private Sector Development: Focus on infrastructure investment, expanding access to finance, and workforce development; fostering Regional Integration: Enhance regional institutions and promote trade and economic cooperation; developing a Regional Development Plan: Create a strategic economic plan targeting poverty reduction and engaging with International Partners: Explore alternative funding sources and leverage expertise from global partners.
MRISS believes that these measures will help MRU countries reduce aid dependency and achieve sustainable economic development. The institute will continue to monitor the situation and provide further policy recommendations for the MRU nations in their pursuit of self-reliance.
