PRES. BOAKAI HONORS AFDB PRESIDENT LAUNCHES YOUTH ENTREPRENEURSHIP INVESTMENT BANK IN LIBERIA

In a momentous event marked by strategic partnership and shared aspirations, His Excellency Joseph Nyuma Boakai, Sr., President of the Republic of Liberia, today honored Dr. Akinwumi Adesina, President of the African Development Bank (AfDB), for his visionary leadership and unwavering commitment to the socio-economic advancement of Liberia and Africa. The ceremony, held on Tuesday, July 22, 2025 at the Ellen Johnson Sirleaf Ministerial Complex in Oldest Congo Town, also witnessed the official launch of the Liberia Youth Entrepreneurship Investment Bank (YEIB) a transformative initiative to empower young Liberians as drivers of economic growth. Welcoming national leaders, international dignitaries, and stakeholders from across sectors, President Boakai described Dr. Adesina as “a great friend of Liberia and an outstanding African leader” whose leadership has redefined development financing on the continent. “Under your tenure,” he noted, “the Bank’s capital more than doubled in a decade a truly transformative feat.” President Boakai highlighted the strong presence of Liberia’s three branches of government at the event, emphasizing the national significance of Dr. Adesina’s visit as he nears the end of a distinguished tenure. “You have been a trusted partner and a champion for Africa’s development,” he said. The President commended the African Development Bank’s current portfolio in Liberia valued at approximately US$408 million, encompassing 18 projects in vital sectors such as transport, energy, agriculture, public financial management, and multisectoral development. “These investments are not just figures,” he stressed. “They are roads, electricity, food security, and institutional reforms that touch the lives of everyday Liberians.” A key highlight of the event was the launch of the Youth Entrepreneurship Investment Bank (YEIB), a cornerstone of President Boakai’s ARREST Agenda. “With over 60 percent of our population under the age of 30, the YEIB is a bold response to youth empowerment,” President Boakai said. The initiative will provide financing, mentorship, and capacity-building in agriculture, technology, and other emerging sectors turning job seekers into job creators and fostering inclusive economic growth. President Boakai also expressed strong support for the African Development Bank’s Domestic Resource Mobilization initiative, calling it a “game-changer” for building sustainable and self-reliant economies across the continent. Looking forward, the President appealed for sustained AfDB support, particularly urging consideration for the Liberty Corridor Project, which aims to connect Liberia to Guinea, Burkina Faso, and Mali through critical infrastructure. “We would proudly serve as the Atlantic gateway for our landlocked neighbors,” he noted, underscoring the regional benefits of such integration. In a powerful and candid address during the High-Level Expanded Cabinet Meeting, Dr. Akinwumi Adesina delivered a rousing call to action to members of President Boakai’s administration, urging them to embrace bold leadership and deliver tangible results. “If you don’t want to be a Minister, don’t ask for the job!” Dr. Adesina declared. “You asked for the opportunity to serve. Now serve! This country needs transformation, not decoration. No more excuses!” His remarks, which drew widespread applause, were directed at senior government officials, including Speaker Richard Nagbe Koon, Finance Minister Augustine Ngafuan, Agriculture Minister J. Alexander Nuetah, and Information Minister Jerolinmek Piah. Dr. Adesina’s message resonated as a clarion call for accountability and urgency in addressing Liberia’s development challenges, particularly youth unemployment and institutional inertia. With optimism and determination, both leaders closed the day with a shared vision: a Liberia that is empowered, enterprising, and positioned to thrive through youth-driven innovation, effective governance, and strengthened international cooperation.