Liberia: A recovering nation with abundant potential
Liberia is richly endowed with natural resources including water, mineral resources, forests, and has a climate favourable to agriculture. While the nation’s complex history has previously limited infrastructure and urban growth there are now indicators that sectors such as energy, mining, ICT, and transportation are on the rise with positive investment and political commitment underpinning long-term goals.
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Liberia is in a transitional phase, emerging from a post-conflict society to a developing country; there have been big efforts made to attract private investors and to reduce corruption. The incumbent government is making gains in aligning Liberian politics, economy, and institutions for development of the country and this is creating opportunities for international stakeholders to increase their presence and support Liberia in realising it’s potential.
Bilateral relations between Sweden and Liberia have been strong for many years and Sweden has been one of Liberia’s largest donors of foreign aid. This relationship has evolved from the historical donor position to active development investment. In December 2020, a decision was taken by the Swedish Cabinet to commit SEK 1.85 billion to a five-year Swedish Development Co-operation with Liberia. The strategy, running from 2021-2025 spans several developmental areas including support for inclusive economic development.
The economic potential of Liberia is considerable and Swedish companies have the potential and scope to contribute with value and solutions to help the market progress in the right direction and boost already emerging sectors.