THE BUREAU OF PUBLIC AFFAIRS

Ministry of Foreign Affairs

Monrovia, Liberia

NEWS SUMMARY FOR THURSDAY, JULY 28, 2016

Dominating today’s newsstand are stories on the introduction of the new banknotes by the Central Bank of Liberia, and the launch of the national export strategy on tourism in Liberia.

Dominant Stories

CBL Introducing L$500 Banknotes

The Central Bank of Liberia (CBL) has announced that, in keeping with its statutory mandate to ensure the integrity of the Liberian Dollar (LRD), the CBL will shortly introduce a new series of banknotes into the Liberian economy, notable among them, a new bill in the L$500 denomination. According to the CBL, though the existing denominations maintain their respective portraits, the Bank has reinforced the security features in the new series, which are both visible and invisible. The newly introduced denomination of L$500 (Five Hundred Liberian Dollar) denomination contains portraits of ordinary Liberians on the front, and Liberian wildlife on the back. CBL has ensured that the new series is printed on a higher quality substrate to guarantee longevity and reduce porosity. In 2000, the CBL introduced the new Liberian dollar banknotes as a unified currency to replace the old “J.J. Roberts” banknotes. Since its introduction, the Liberian banknotes have undergone minor technical redesign and security feature enhancements. The statement also said that the new development is geared towards maintaining public confidence and at the same time deterring fraud and counterfeiting. The newly printed currency features 3 levels of security to guard against fraud and counterfeiting. The new series of banknote will be used along with the old series currently in circulation until otherwise, reports the Daily Observer.

Related Captions: CBL INTRODUCES 500 BANKNOTES (New Dawn), CBL To Issue New Banknotes (Inquirer), L$500 Banknote Coming Soon (Focus), Central Bank of Liberia to Unveil New Banknotes. New Face of the Liberian Dollar (Frontpage Africa), New Banknotes Soon (New Democrat) and CBL Prints New Banknotes (News)

Pres. Wants Tourism Contribute To Economic Growth

According to Focus newspaper, President Ellen Johnson Sirleaf says while it is true that tourism contributes to economic growth, it was imperative for Liberians to venture into the sector to in order create jobs. President Sirleaf made the statement on Wednesday, July 26, 2016 in the Theatre of the Monrovia City Hall, when joined with Vice President Joseph Nyumah Boakai at the launch of Liberia National Export Strategy on Tourism. President Sirleaf said the employment created by the tourism sector enables people from other countries to come and see as well as appreciate what we have.

Related Captions: Gov’t Eyes Tourism to Maximize WTO Dividends (Daily Observer), Tourism Push-Liberia Launches National Export Strategy (Frontpage Africa), Rebirth for Tourism Industry (New Democrat), and GoL Launches Tourism Strategy (Inquirer)

Other Stories

Japanese to Turnover 10MW Power Plant in September 2016

The Government of Japan, through the Japan Corporation Agency (JICA), has officially announced the completion of a Japan-funded 10MW power plant project in Liberia. The plant is expected to be turned over in September later this year. The disclosure was made on Monday when a JICA delegation from the Japanese Embassy in Ghana headed by the Embassy Press Secretary, Mr. Masa Iida, toured Japanese funded projects in Liberia. The 10mw power plant project started two years ago. The power plant, when completed and turned over to the LEC will boost the energy sector by increasing customers, dropping tariff on electricity in the country. The head of JICA field office in Liberia, Shigeki Namba, said the lifespan of the plant is for 25 years.

He disclosed that a fuel house which will supply the power plant that consumes about seven hundred liters (700) of fuel is also being constructed alongside it. “This project started two years ago and we are nearing completion, we will officially complete and turn over this project in September this year,” he explained, reports Frontpage Africa newspaper.

OPIC To Increase US$6B Portfolio In Sub-Sahara Africa

The President and Chief Executive Officer of the Overseas Private Investment Corporation (OPIC), Elizabeth L. Littlefield, says though the organization’s investment portfolio in Sub-Saharan Africa has grown to more than US$6 billion in recent years, the portfolio is still too small for the region. “Although our portfolio has increased over the years, we believe this is too small and we aim to change that,” she said, adding, “we are here to listen and learn.”

She said those who live within an economy invariably have the greatest insight into its needs and potentials, and as such, into what needs to be done to attract and keep the private investment that is so essential to job creation. Madam Littlefield made these statements recently at the signing ceremony between OPIC and International Bank Liberia Limited (IBLL) to lend US$20 million direct loan to support lending in sectors such as construction, services, manufacturing, agribusiness, hospitality, and transportation. She said OPIC is working along with IBLL to facilitate such endeavors, reports the Daily Observer.

Gender Ministry Gets New Offices

President Ellen Johnson Sirleaf has dedicated a new office building for the Ministry of Gender, Children and Social Protection. The refurbished structure was formerly used by the Ministry of Health and Social Welfare. President Sirleaf commended the Gender Ministry family and all others who helped them to realize the relocation and for turning out at the ceremony. President Sirleaf particularly commended Gender, Children & Social Protection Minister Duncan Cassell and the General Services Agency (GSA) Director Madam Mary T. Broh for what she called “tremendous” work done on the structure which was erected since 1927, reports the Focus newspaper.

Post-Ebola Conference Kicks off in Monrovia Today

Africa Health Ministers will today arrive in Monrovia to attend a two-day conference on the post Ebola matters. According to the Ministry of Health, the intent of the meeting is for Africa Health Ministers to review reports that have been made by some individuals and institutions on the three West African countries including Liberia, Guinea and Sierra Leone, which were mainly impacted by the Ebola outbreak. The Ministry added among other things that, the conference will address key issues such as the cause of the disease and the way to manage any flare-up of the virus, the Insight newspaper writes.

Lawmaker Dedicates over 2M Projects in Nimba

Nimba County Electoral District no.1 Representative Jeremiah Kpan Koung has dedicated several projects in his district worth over US$2million.the projects dedicated by the Nimba county lawmaker include two elementary schools in Bain Gowee and Welainia and a private hospital that contains more than one hundred bedrooms. Speaking at a well-attended ceremony over the weekend at the Ganta City Sports’ Pitch, Representative Koung said there is a need for Liberian children to be in schools, saying “in the past, they never had the opportunity to go to school”, the Insight newspaper reports.

Global Peace Road Initiative Launches in Liberia

Global Peace Road 2016 was on Wednesday, July 27, 2016, launched in Liberia under the theme: “Come Let Us Reason Together for a Better Tomorrow”. Global Peace Road is a reconciliatory initiative of the Collegiate Association for the Research of Principles-Liberia or (CARP-Liberia), and the Family Federation for World Peace and Unification (FFWPU), as well as the Universal Peace Federation (UFP). Speaking at the launch of the initiative at the Paynesville Town Hall, Rev. Augustine Arkoi, and Secretary General of the Universal Peace Federation-Liberia challenged young people to serve as agents of peace, the Insight newspaper writes.