Each country has responded to the situation in a manner that reflects its unique development needs.
Monrovia – The Mano River Institute for Strategic Studies (MRISS), led by Executive Director George Tenessee Nimely, is calling on the Mano River Union (MRU) countries to diversify their funding sources and shift towards self-reliance after the recent suspension of USAID assistance.
By Selma Lomax [email protected]
While acknowledging the difficulties posed by the suspension, MRISS views this as an opportunity for MRU countries to reduce their reliance on external aid and strengthen their economies.
Each country has responded to the situation in a manner that reflects its unique development needs. Liberia has launched initiatives to mobilize domestic resources, increase tax revenue, improve public financial management, and implement austerity measures to reduce government spending. Sierra Leone has prioritized private sector development by focusing on infrastructure investments and enhancing access to finance; while Guinea has concentrated on building its institutional capacity, while Côte d’Ivoire has emphasized regional integration as a key strategy for fostering self-reliance.
Despite these distinct responses, MRISS highlights several common themes, including the need to reduce dependency on external aid, strengthen institutional capacity, mobilize domestic resources, and foster private sector development.
To support the MRU countries in achieving self-reliance, MRISS recommends strengthening Domestic Resource Mobilization: Boost tax revenue, enhance public financial management, and attract private sector investment; promoting Private Sector Development: Invest in infrastructure, expand access to finance, and focus on workforce development; postering Regional Integration: Strengthen regional institutions and promote trade and economic cooperation; developing a Regional Development Plan: Create a strategic plan to reduce poverty and promote economic development and engaging with International Partners: Explore alternative funding sources and leverage global expertise and technical assistance.
MRISS believes that these measures will help MRU countries reduce their dependency on external aid and achieve sustainable economic growth.
The institute says it will continue to monitor the situation and provide further policy recommendations to assist the MRU countries in their pursuit of self-reliance.
