MONROVIA – The African Development Bank and the Government of Liberia has launched launched a USD 1.2 million catalytic project funded by the Governments of Japan, Austria and Liberia. The project aims at stimulating the growth of small and medium enterprises (SMEs) based on secondary processing of wood products that will facilitate jobs and wealth creation in Liberia. The project also argues well for job creation in Africa and falls in line with the African Development Bank’s Industrialization Strategy for Africa 2016-2025. The expected outcomes will include: (1) organised producers and traders of secondary processed wood products; (2) improved access to start-up capital; (3) established links between government (FDA) and private sector; (4) improve wood processing by SMEs for job creation, poverty reduction, quality wood products and markets at the national level. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF).

Source: Front Page Africa April 04, 2019 00:11 UTC