The Plenary of the House of Representatives has asked its Committees on Agriculture, Forestry & Fisheries and Banking & Currency to look at possibilities for the revitalization of the Agriculture Bank of Liberia. Plenary took the decision Thursday, 15 February, 2024 during its 11th Day Sitting as a result of a communication from Rep. Alfred Flomo of Electoral District 4, Grand Bassa County. Rep. Flomo in his communication sought t the attention of Plenary for the revitalization of the Agriculture Bank of Liberia. According to him, agriculture, including forestry, is the primary livelihood for more than 60 percent of Liberia’s 2021 real gross domestic product (GDP). He noted that the sector is seriously challenged with a lot of difficulties since the closure of the Agriculture Bank of Liberia due to the Fourteen years of civil un-rest in the country. “Hon. Speaker, Hon. Deputy Speaker, Distinguished Colleagues, most agriculture is a small scale, and overall agricultural productivity is low due in a large part to low technology practices and lack of quality agricultural inputs. As a result, Liberia imports more than 80 percent of its staple food rice, making the country vulnerable to global food insecurity. Additionally, the sector is poorly integrated, the sector lacks basic infrastructure such as machine, farming equipment and tools, farm to market roads, fertilizers and pesticide including food storage,” he indicated. The Grand Bassa lawmaker said with the constraints in the agriculture sector, and revitalizing the Agricultural Bank of Liberia will give farmers the opportunity for loan to help alleviate some of the burdens they are faced with. The Committees has been mandated by the full body of the House of Representatives to review and advise Plenary on possibilities of revitalizing the Agriculture Bank of Liberia so as to alleviate some of the burdens local farmers go through as raised by Rep. Flomo within two week.
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