The Analyst Newspaper - Published by Liberia Analyst Corporation
 
 

 

 

 

  Saturday, April 26, 2008
  New Pursuit For Investors
 
     
 

The development of Liberia is not a one man’s business, it is said. Almost every Liberian national has joined the wagon spearheaded by President Ellen Johnson Sirleaf and her g overnment, finding possible means through which Liberia can achieve its renewal and development initiatives.

  Amb. Nat Barnes
 
• Amb. Nat Barnes

Liberia’s Permanent Representative to the United Nations, Nathaniel Barnes, understanding his country’s needs, has launched a new pursuit for investors, targeting members of Liberians in the Diaspora as potential investors for the development of mother Liberia.

To do this, he has sought the support of his colleagues at the UN. The Analyst brings you details of Mr. Barnes’ efforts.
  
The Liberian Permanent Representative to the United Nations, Ambassador M. Nathaniel Barnes has extended a standing invitation to Ambassadors at the U.N. Headquarters, investment fund managers and foundations to review and comment upon his Proposed Alternative Development Model which draws heavily upon members of the Liberian Diaspora as potential investors for development of Liberia.

Amb. Barnes delivered his invitation at “An Evening of Diplomatic-Corporate Dialogue on Development” at the Waldorf Astoria Hotel.

The format for the evening was a smooth blend of the formal and the informal: beginning with a brainstorming session before the roll-out of the model and testimonies on the role of the various Diasporas in investment for development in countries such as, Zambia, Bangladesh, the Bahamas and Nicaragua. 

U.N. Ambassadors from these countries presented thought-provoking analyses of their Diasporas and their contribution or potential contribution to development in their respective regions or countries.

Significant corporate presence included the Greylock Capital Management Firm, BASF Corporation, Coca Cola and the Hinduja Group. Foundations such as the Purdue Foundation and international non-governmental organizations such as the International Crisis Group and Conservation International were also represented. Guests had the opportunity to respond to select presentations when questions and comments were invited from the audience.     

Amb. Barnes, who was introduced by Mr. Bennett Yalartia, Senior Policy Advisor to the Permanent Mission of Liberia, told more than 100 guests that countries such as Liberia have a dire need for capital influx from investors, especially from the Diaspora which has several advantages over official development assistance (ODA) and foreign direct investment (FDI). 

Investments from the Diaspora can provide a more stable capital flow, are non-debt generating and are free of stringent conditions. If managed properly, they can exhibit low volatility and no negative effects on the export sector.

The Liberian diplomat, who has a background in finance, under-scored the need for national policy-makers and private sector stakeholders to establish and implement structural mechanisms to harness the Diaspora in a long-term partnership to develop Liberia.

In this regard, the key will be to build a solid partnership with those in the Diaspora who are willing to invest in Liberia given the proper investment conditions and government incentives.

The highlight of the evening was the enthusiastic feedback from a wide range of guests including Roy Innis, civil rights activist and strong supporter of peace and development in Africa and Julian Menken, President of Cruise Market, Inc., who commended Liberia for this initiative citing the success of Israel in tapping the Jewish Diaspora and offering scholarships for Liberian students at the Maritime College, State University of New York.

Vigorous discussion was stimulated by presentations and remarks by Ambassador of Zambia, Lazarus Kapambwe; Ambassador of Bangladesh, Ismat Jahan; Ambassador of the Commonwealth of the Bahamas, Paulette A. Bethel; Ambassador of Nicaragua, Maria Rubiales de Chamorro; President of Greylock Capital Management, LLC. Hans Humes, Attorney-at-law with Cleary, Gottlieb, Steen and Hamilton, LLP. Lee Buchheit; Vice President of Conservation International, Frank Hawkins and United Nations Secretary General Special Adviser on Africa, Ambassador Cheick Sidi Diarra

“Veil Of Impunity Lifted” TRC Chairman Verdier 

The Chairman of the Truth and Reconciliation Commission (TRC) Cllr. Jerome Verdier says despite attempts by some to cast aspersion on the TRC process and waylay its success, the Liberian people remain resolute in their support for the commission.

  Cllr. Jerome Verdier
 
• Cllr. Jerome Verdier

“Slowly but surely the veil of impunity is being lifted and the wall of silence is beginning to crumble.”

Healing is taking place whilst history of the conflict and its root causes are unfolding,” Verdier said Monday when he officially opened rural public hearings of the TRC in the provincial capitol of Bopolu, Gbarpolu County.

Cllr. Verdier said the commission will remain unwavering in its commitment to see the TRC process through its logical conclusion, adding: “We shall be steadfast and undeterred.”

He said the response of ordinary Liberians to the TRC hearings has been overwhelming, public support high as there has been no shortage of witnesses, victims and perpetrators coming forward to tell their stories and share their experiences.

Verdier said the hearings have developed a dynamics of its own and proving beyond expectation that the shield of impunity and the culture of silence can indeed be broken.

But the TRC Chair said the process can be undermined when victims are afraid to speak out openly against the abuses they suffered and when perpetrators continue to gloat over their exploits.

Cllr. Verdier: “While the TRC process is about  mending and restoring broken relationships, regaining the dignity of victims and helping perpetrators rediscover their lost humanity, it is equally important to understand that the TRC process is undermined when victims are afraid to speak out openly against the abuses they suffered, when perpetrators continue to gloat over their exploits, and when officials of government, through acts of omission or commission abuse the public trust without reckon.”

He commended the TRC partners, the government of Liberia and the Liberians people for their solidarity and continued support.

The TRC is an independent body set up to investigate the root causes of the Liberian crisis, document human rights violations, review the history of Liberia, and put all human rights abuses that occurred during the period from 1979 to 2003 on record.

Its mandate is to identify victims and perpetrators and make recommendations on amnesty, prosecution and reparation. The ongoing rural public hearing in Bopolu City is being held under the theme: “Confronting Our Difficult Past, For A Better Future.”

 
     
 
 
 

 

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