MONROVIA— A major proposal aimed at transforming diaspora remittances into a sustainable national development financing mechanism is now before the Liberian Senate following the submission of the proposed “Diaspora Development Fund Act of 2025” to the Senate Caucus Committee on Diaspora Affairs.
The proposed legislation, submitted by the Diaspora Liberian Development Initiatives (DLDI), seeks to establish a structured and independently managed development fund supported by a fixed US$1 contribution deducted from every remittance transaction sent to Liberia from abroad.
The proposal was formally transmitted in a letter dated May 11, 2026, from DLDI President Dr. Prince Yeakehson to Senator Abraham Darius Dillon, Chairman of the Senate Caucus Committee on Diaspora Affairs.
According to the submission, the initiative is intended to create a transparent, accountable, and sustainable financing framework capable of supporting critical sectors including education, healthcare, agriculture, infrastructure, youth empowerment, technology, water and sanitation, and community development throughout Liberia.
The proposal argues that Liberia has long benefited from billions of dollars in annual diaspora remittances but lacks a comprehensive institutional mechanism to strategically channel part of those flows into long-term national development projects.
Under the proposed bill, every qualifying remittance transaction originating from outside Liberia would attract a mandatory US$1 contribution regardless of the amount being transferred or the identity of the sender.
The draft legislation emphasizes that the contribution would be based on the frequency of transactions rather than the value of the remittance itself.
Proponents of the bill believe millions of annual remittance transactions could collectively generate substantial funding for national development while reducing Liberia’s dependency on foreign aid and limited government resources.
The proposed law would establish a Diaspora Development Fund (DDF) maintained at the Central Bank of Liberia but managed independently through a diaspora-led governance structure.
According to the draft bill, the fund would not form part of Liberia’s national budget or consolidated government revenue. Instead, it would operate as what the proposal describes as a “Patriotic Trust Fund” held in custodianship by the Central Bank on behalf of the Liberian diaspora.
The bill further proposes the creation of a Diaspora Liberia Development Board composed primarily of diaspora county representatives from all fifteen counties, alongside an advisory representative from the Central Bank.
The board would be responsible for approving projects, overseeing disbursements, publishing annual reports, commissioning independent audits, and ensuring equitable county-level distribution of development resources.
The proposal also contains strict accountability provisions, including annual independent audits, public reporting requirements, financial penalties for institutions failing to remit funds, and sanctions for misappropriation or political interference.
Under the proposed framework, the Government of Liberia would be prohibited from accessing, borrowing, redirecting, or including the fund within the national budget.
DLDI said the initiative has already received broad support from several major Liberian diaspora organizations worldwide, including the Union of Liberian Associations in the Americas (ULAA), the European Federation of Liberian Associations (EFLA), the Federation of Lofa Associations in the Americas, the Liberian Association in Canada, and the Liberian Association in Queensland, Australia.
Dr. Yeakehson said the proposal represents an unprecedented effort by Liberians abroad to establish a sustainable, diaspora-driven financing mechanism capable of supporting development initiatives under any democratically elected administration in Liberia.
Among the projects envisioned under the proposed fund are nationwide electricity expansion, vocational and technical institutions in Liberia’s four regions, training for engineers and medical professionals, rural water systems, ICT infrastructure, industrial hubs, and support for agriculture and youth employment.
The Senate Caucus Committee on Diaspora Affairs is now being urged to begin consultations and legislative discussions on the proposal.
If enacted, the Diaspora Development Fund Act of 2025 could become one of Liberia’s most ambitious diaspora-financed development initiatives in recent history.
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