Published: November 26, 2025
MONROVIA — On Tuesday, November 25, 2025, Representative Taa Z. Wongbe of Nimba County’s District 9 introduced two major pieces of legislation aimed at addressing Liberia’s immediate economic hardships while protecting its long-term financial stability.
The pair of bills—the National Community & MSME Stimulus Bill of 2026 and the Liberia Future Generations Extractive Savings Fund Act of 2025—represent one of the most comprehensive dual policy proposals advanced during the 55th Legislature, targeting economic inclusion, transparency, and intergenerational equity.
The first bill seeks to establish a US$10 million national stimulus fund aimed at strengthening local economies by channeling resources directly to ordinary Liberians—particularly Micro, Small and Medium Enterprises (MSMEs), women’s organizations, farmer cooperatives, and community-based groups across all 73 districts.
Rep. Wongbe said too many citizens feel detached from the national budgeting process and rarely see how public money improves their lives. The bill, he said, is intended to “bring government closer to the people by turning the national budget into a direct tool of empowerment, not bureaucracy.”
Under the proposed legislation, the stimulus would be implemented through the Liberia Agency for Community Empowerment (LACE), with 95 percent of the funds transferred directly to beneficiaries via bank accounts or mobile money. Grants would range from US$250 to US$7,500, targeting small enterprises and legally registered community groups. A district-based allocation formula is expected to ensure equitable distribution nationwide.
Transparency is built into the proposal, requiring a public online registry of all beneficiaries, joint legislative oversight, and annual audits by the General Auditing Commission.
Wongbe said the initiative, grounded in Article 7 of the Constitution, would support more than 5,000 MSMEs and cooperatives, with at least half of all beneficiaries being women-led groups. The bill, he added, is expected to spur job creation, increase financial inclusion, and rebuild trust between citizens and the state.
“This stimulus will deliver visible development in every district, stimulate local economies, and empower the entrepreneurial spirit of our people,” he said.
A National Savings Foundation for Liberia’s Extractive Wealth
Wongbe’s second proposal—the Liberia Future Generations Extractive Savings Fund Act of 2025—aims to create a permanent national investment fund dedicated to preserving a share of the country’s natural resource revenues for future generations.
With mining, petroleum, and forestry sectors poised for expansion, Wongbe said Liberia must prioritize long-term fiscal discipline and protect public wealth from short-term political pressures and the volatility of global commodity markets.
“This Act is a historic opportunity to secure the blessings of our natural resources for all Liberians—not just today, but for decades to come,” he said.
The bill calls for mandatory savings of 10 percent of all extractive revenues, including new and emerging revenue streams. It establishes a Permanent Capital Base that cannot be withdrawn except through a constitutional amendment—creating a strong legal firewall around future national savings.
The fund would be governed by a seven-member independent board representing government, civil society, and technical experts. It also mandates annual audits by both the GAC and an international auditing firm.
The proposal creates a two-window structure:
70 percent into a Heritage or Generation Fund dedicated to long-term savings; and
30 percent into a Stabilization Fund to cushion the economy during revenue downturns.
Strict rules would regulate withdrawals, preventing political misuse and prohibiting the use of the savings fund as collateral.
The Act draws its authority from Article 34(d)(ii) of the Constitution, the Public Financial Management Act, and the LEITI Act, and aligns with global benchmarks such as the Santiago Principles.
If approved, the savings fund is expected to strengthen Liberia’s creditworthiness, reduce vulnerability to external shocks, diversify public revenue streams, and build a growing capital base for future generations. Wongbe said the measure — coupled with the stimulus bill — is intended to deliver immediate economic relief while positioning Liberia to build sustainable wealth. “These bills reflect the kind of balanced governance Liberia needs,” he said, “one that supports communities today while ensuring that the nation’s natural wealth works for tomorrow.”
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