President Joseph Nyuma Boakai has officially launched the African Development Bank first Youth Entrepreneurship Investment Bank (YEIB), in Liberia. The YEIB is a historic and transformative initiative aimed at empowering young Africans to become job creators and key drivers of their national economy.
The YEIB, which is the intoned of US$17.8 million is designed to support Liberian youth between the ages of 18 and 35, offering them the financial and technical tools needed to develop sustainable businesses and contribute to inclusive economic growth.
Speaking at the launch ceremony held on Tuesday, July 22, 2025, at the Ellen Johnson Sirleaf Ministerial Complex in Congo Town, President Boakai described the initiative as “perhaps one of the most exciting programs the Government has launched,” underscoring its significance to Liberia’s future.
“This latest move speaks directly to the heart of the country’s future, considering that over sixty percent of our population is under the age of thirty,” President Boakai said. “This program gives hope to our young people by turning them from job seekers into job creators.”
He further explained that YEIB is more than just a financing institution. It will also provide mentorship, business development services, and skills training tailored to help youth-led ventures thrive in key sectors such as agriculture, technology, the knowledge-based economy, and other emerging industries.
The President emphasized that the bank aligns with his administration’s ARREST Agenda, which prioritizes Agriculture, Roads, Rule of Law, Education, Sanitation, and Tourism — with a strong emphasis on economic revitalization and private sector development.
Joining President Boakai at the launch was Dr. Akinwumi A. Adesina, President and Chairman of the Board of Directors of the African Development Bank (AfDB), which is a key partner in the YEIB initiative.
Dr. Adesina reaffirmed the AfDB’s long-standing commitment to Liberia and highlighted the institution’s decades-long partnership with the country.
“Since 1967, the African Development Bank has invested over $1.02 billion in Liberia across 72 projects — each designed to enhance the quality of life for the Liberian people,” Dr. Adesina said.
He detailed several key AfDB-funded infrastructure projects that have had a significant impact on Liberia’s development. These include the 50-kilometer Fish Town to Harper Road project, the 16-kilometer Harper Junction to Cavalla Border Road, the 80-kilometer Karloken to Fish Town Road, and the 22-kilometer Sanniquellie to Loguatuo Road under the Second Phase of the Mano River Union Road Development and Transport Facilitation Programme.
Dr. Adesina also spotlighted the Bank’s contributions to Liberia’s energy sector, citing the financing of 2,434 kilometers of electricity transmission and distribution lines. This includes 1,360 kilometers of the Côte d’Ivoire–Liberia–Sierra Leone–Guinea (CLSG) regional interconnection project, which enables Côte d’Ivoire to export 400 megawatts of power to its Mano River Union neighbors, including Liberia.
“This initiative, like the YEIB, is about power — not just in kilowatts, but in the power of opportunity,” Dr. Adesina stated. “We are proud to stand with Liberia as it invests in the greatest resource of all: its youth.”
The launch of YEIB marks a new chapter in Liberia’s economic transformation agenda — one that places young people at the center of national progress and innovation.
