Boakai Launches Investment Bank

Boakai Launches Investment Bank

By Godgift Harris

President Joseph Nyuma Boakai has officially launched the Youth Entrepreneurship Investment Bank (YEIB).

The initiative is expected to play a transformative role in shifting the country’s youth from ‘job seekers to job creators.’

The launch took place at a high-level expanded cabinet meeting and special honoring ceremony held at the Ministerial Complex in Congo Town, on Tuesday, July  22, 2025 in Monrovia.

The occasion also witnessed the President bestowed national honors on Dr. Akinwumi A. Adesina, President of the African Development Bank (AfDB) for his visionary leadership and impactful contributions to Africa’s development agenda.

Pres. Boakai described the YEIB as a bold response to the country’s development needs, especially in regard to its youthful population. “Over 60 percent of the county’s population is under 30,” the President noted, saying: “The program directly touches the heart of the country’s future. It will equip young people with financing mentorship and skills to succeed in agriculture, technology, and knowledge-based enterprises.” The YEIB represents a shift in national mindset from dependency to innovation and self-sufficiency.  “We are shifting the mindset, empowering our youth to build and create, not wait. This is the beginning of a new chapter for the country’s future.” Pres. Boakai used the occasion to pay tribute to Dr. Akinwumi Adesina, who is nearing the end of his tenure at the helm of the African Development Bank.

Boakai hailed him as a “true friend of Liberia,” and a leader whose vision has redefined development finance across the Continent.

“Dr. Adesina is not a stranger to Liberia,” Boakai declared, adding: “Under his leadership, the African Development Bank has grown in size and impact. In just ten years, the bank has achieved what others could not in 50 years, that’s not just progress, but transformation.”

The President then highlighted AfDB’s current investment portfolio in the country, which totals US$48 million across 18 vital projects in transportation agriculture, energy, infrastructure, and financial inclusion. These investments, he stressed, are making real and tangible changes in the lives of ordinary Liberians from lighting homes to connecting remote communities, boosting food security, and creating sustainable jobs. “Your legacy in the country is strong and enduring,” Boakai told Dr. Adesina. He assured Adesina the continuity of the programs he championed to change lives for years to come. As a mark of national appreciation, Pres. Boakai presented Dr. Adesina with a Special Presidential Pin, symbolizing the country’s gratitude for his unwavering support and leadership.

Dr. Adesina, visibly moved by the recognition, expressed his deep appreciation to the government and people of Liberia; reaffirming the AfDB’s commitment to partnering with the country in advancing its development goals.