Promoting Private Sector Development

What is the Programme about?

 The "Liberian Market Place" is a hub use to showcase and promote locally made products by Liberian entrepreneurs.

Under the Promoting Private Sector Development, UNDP seeks to support the Government’s drive for sustainable economic transformation by rolling out series of measures aimed at reducing obstacles to enterprise development and expanding access to inclusive financial services. The Program builds on the on-going assistance to microfinance institutions to expand the range and reach of inclusive finance to include areas such as micro-insurance and leasing, effective natural resource management and linking natural resources to value-addition and jobs creation. The focus is also to strengthen governance of natural resources in the context of reconciliation and peace consolidation and the overall transformation of the Liberian economy.

The Private Sector Development (PSD) Program dovetails with the national vision for a private sector-led growth as outlines in the Economic Transformation Pillar of the Agenda for Transformation, Liberia’s national development strategy. The Economic Transformation Pillar aims to transform the Liberian economy so that it meets the demands of Liberians through development of the domestic private sector—using resources leveraged from foreign direct investment in mining and plantation by providing employment for a youthful population, investing in infrastructure for economic growth, addressing fiscal and monetary issues for macroeconomic stability and improving agriculture and forestry to expand the economy for rural participation and food security. Overall, the Program combines high level policies and regulatory and transformational interventions which will facilitate inclusive and sustainable growth.

Under this Program also, UNDP supports the capacity of key agencies involved in the extractive industry value chain, from negotiation, granting of concessions, monitoring and reporting of resource revenues to perform their roles effectively to enable the people of Liberia obtain the full benefits of their rich natural resources. PSD supports the review and development of clear mandates, structures and functions of key actors in the extractive industry and make recommendations for reform and co-ordination as appropriate.

Who Finances It?

Total funding required (2013-2017)


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