The Israel Diamond Institute recently signed a memorandum of understanding (MoU) with Liberia at a ceremony in Tel Aviv, Israel.

The MoU says that in “establishing a firm and stable diamond infrastructure in Liberia, the Israeli Diamond Industry is prepared to offer the … Government of Liberia the services of its top diamond specialists in conducting a full-scale and in-depth survey of the Liberian diamond industry and its potential.”

Ellen Johnson-Sirleaf, the country’s Harvard-educated president and the first female head of state in Africa, attended the ceremony and said Liberia wants to use its diamond resources to benefit its people.

IDI chairman Moti Ganz added, “Liberia has made significant strides in instituting democracy and rule of law. Liberia’s future is filled with diamonds. This agreement will enable us to create significant ties with Liberia’s emerging diamond industry.”

Last year, Liberia was readmitted to the Kimberley Process, and the United Nations lifted sanctions against the country’s diamonds.