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Home > News > Kabiné Komara supports Liberia's integration in the African Solidarity Fund

Published on March 15, 2023 / Topic : Foundation

Kabiné Komara supports Liberia's integration in the African Solidarity Fund


The former Guinean Prime Minister and Advisory Board Member of the Brazzaville Foundation, Kabiné Komara visited Liberia to meet with the Minister of Finance, Mr. Samuel Tweah, the Governor of the Central Bank, Mr. Aloysius Tarlue and the President of the Professional Association of Banks and to facilitate the country's integration into the African Solidarity Fund (ASF). Mr. Komara was accompanied by the Director of the Cooperation Department of this institution, Ms. Safiatou Jackou.

From left to right: Mr. Samuel D. Tweah, Minister of Finance and Development Planning of Liberia and Mr. Kabiné Komara, former Prime Minister of Guinea and Advisory Board Member of the Brazzaville Foundation.

During the discussions, Mr. Komara highlighted the challenges of the ASF, including the financing of operations or projects of an industrial, agricultural, commercial, infrastructure and services nature, financially and economically profitable. The Liberian parties expressed their willingness to be part of this institution, in a context of implementation of a program with the International Monetary Fund (IMF) aimed at diversifying the country's economy, particularly through the strengthening of agriculture and the development of SMEs.


It was also specified that specific support exists for sectors of activity deemed to be priorities by the applicant country. Thus, a convergence of views was established between the authorities of the Ministry of Finance, the Central Bank and the professional association of banks according to which all the diligences should be implemented to concretize the fast adhesion of the country. It was decided to set up a task force that would visit the ASF's headquarters in the next few days to familiarise itself with the institution's practices and prepare a detailed report on the basis of which the country will formally submit its membership application.


Recall that last February, Kabiné Komara had officiated in the same way in Gambia which has just joined the institution. It is expected that Mr. Komara will do the same for Sierra Leone and Ghana in the near future.


As a reminder, the African Solidarity Fund was founded in March 1975 by the Heads of State of the 16 member countries, meeting at a summit in Bangui, Central African Republic, with a view to becoming a strong and innovative pan-African institution at the service of the structural transformation of the economies of the States. It became operational in 1979 and its headquarters is located in Niamey in the Republic of Niger. The structure actively contributes to the economic and social development of its member states.