Congo Town, Monrovia – A US$408 million Youth Entrepreneurship Investment Bank (YEIB) has been launched by President Joseph N. Boakai. The program’s goal is to make Liberia’s youth the driving force behind economic change. Speaking on July 22, 2025, at the EJS Ministerial Complex in Congo Town, President Boakai stated that the YEIB is a direct investment in the future and existence of the Liberian state, not merely a program.
Given that more than 60% of Liberia’s population is under 30, the president added that the only way to achieve lasting peace and prosperity is for young people to start creating jobs rather than looking for one. “This has to do with economic freedom. The goal is to reverse the trend. The YEIB provides our young people with the resources, capital, and platform they need to make a significant impact in technology, agriculture, and other developing fields.”
Dr. Adesina, who Boakai referred to as a “pan-African trailblazer” and “a friend whose legacy will outlive his tenure,” was honored at the same time as the launcher. The president informed Adesina, “Your leadership has not only funded roads and power, but it has also fueled belief and opportunity. You have turned the African Development Bank into a force for real solutions.”
The AfDB has doubled its capital under Adesina, going from $2 billion over half a century to over $4 billion in only ten years. A US$408 million investment portfolio including 18 projects in vital sectors like transportation, energy, agriculture, finance, and governance reform already shows Liberia’s share of that success.
“These numbers aren’t theoretical. They are fields that provide food for our people and give farmers dignity, highways that break isolation, and electricity lines that illuminate neighborhoods,” he continued.
President Boakai made a strong case to the AfDB leadership for support of the Liberty Corridor Project, a bold transnational infrastructure project that would connect Liberia with Guinea, Burkina Faso, and Mali. “We want to be the gateway for landlocked neighbors. This corridor isn’t just about roads. It’s about trade, shared wealth, and Africa rising on its own terms,” he said.
The President further acknowledged that Liberia was able to re-establish integrity in public finance and public trust in government institutions through financial governance reforms supported by the AfDB.
