Dakar, Senegal – President George Manneh Weah has proposed a new program dubbed the ‘New Life Program for Inclusive Finance’ (NLPIF).
The program will be subject to legislation where applicable.
According to an Executive Mansion dispatch from Dakar, President Weah made the disclosure when he spoke during his visit to his Senegalese counterpart, President Macky Sall.
The Liberian leader said the program is geared towards the promotion of transparency and the fast-tracking of development and growth while ensuring that the special needs of the citizenry are implemented with direct supervision from the Office of the President.
The program will also seek to establish a Special Development Fund under the Office of the President.
As proposed by the President, The New Life Program for Inclusive Finance (NLPIF) shall not receive funding from the National Budget but instead will be funded by grants, loans, donations and other financial assistance or aid received from international organizations, foreign governments or agencies and other institutions, including foreign and local non-governmental agencies.
The dispatch furthered, the program will seek to ensure that all funds obtained from donors shall constitute public property and be subject to all laws applicable to the use and accountability of public funds; including internal and external audit procedures; but will not form part of the state’s treasury.
President Weah said the NLPIF will be under the management of an Executive Director, who shall be appointed by the President, and other senior managers as deemed necessary for the smooth, proper, and efficient management of the Fund in accordance with conventional and best practice for such institutions.