The Liberia Revenue Authority (LRA) will host a two-day stakeholders’ engagement on the dissemination of key messages in the country’s Domestic Resource Mobilization (DRM) Strategy in Gbarnga, Bong County, beginning Thursday.
About 50 representatives from the LRA, the Ministry of Finance and Development Planning (MFDP), UNDP, local and international development partners and NGOs, civil society and the business community will assemble in Gbarnga for the UNDP-sponsored engagement.
A press release issued yesterday said the main objective of the dissemination of key messages in the DRM Strategy is to present to stakeholders strategies, options and areas of intervention. More specifically, the exercise will provide the opportunity for donors to clearly see how the DRM Strategy is critical in financing the Pro-Poor Agenda for Prosperity and Development (PAPD)- the government’s current development roadmap.
The Gbarnga event will further provide the opportunity for participants to clearly understand Liberia’s DRM Strategy and suggest ways forward for the implementation of the Strategy.
DRM refers to the generation of revenue locally and their allocation to economically and socially productive investments including basic social services such as roads, electricity, quality health and education. It is potentially the biggest source of long-term financing for sustainable development and it is the life blood of all state governance such as the provision of public goods and services.
Commissioner General Thomas Doe Nah has since described the implementation of the DRM Strategy as very fundamental to the transformation of Liberia. “We at the LRA take this strategy very seriously, especially as we strive to expand the revenue base of our country,” CG Nah said at a recent gathering on the document in Monrovia.
He said the DRM Strategy also serves as a key pillar of the government’s Pro-Poor Agenda for Prosperity and Development and, as such, must be immensely supported by all participating stakeholders and partners.
Liberia’s DRM Strategy is the result of four regional dialogues, which culminated into a National Revenue Symposium held in June 2017 on domestic resource mobilization. During the National Revenue Symposium, a document inclusive of plans and ideas on how to initiate a DRM Strategy for Liberia was formulated.
The strategy is further in support of a global crusade highlighting DRM as pivotal for African countries to finance the Post-2015 Sustainable Development Goals (SDGs) and the Africa Action Agenda 2063.