Africa-Press – Liberia. President Boakai says the launch of a Youth Entrepreneurship Investment Bank here in collaboration with the African Development Bank Group gives hope to young Liberians. It aims to turn them from job seekers into job creators.
In a bid to unlock opportunity and drive job creation, the Government of Liberia, in partnership with the African Development Bank Group (AfDB), has officially launched a Youth Entrepreneurship Investment Bank (YEIB) focusing on young Liberians.
The launch held yesterday at the EJS Ministerial Complex in Congo Town was attended by President Boakai and the outgoing President of the African Development Bank Group, Dr. Akinwumi A. Adesina, alongside members of the Liberian government, development partners, members of the traditional council, and youth leaders.
The YEIB is jointly financed by the African Development Fund (US$15.9 million), Korea Africa Economic Cooperation (US$0.7 million), with the Government of Liberia providing US$1.2 million in-kind support. YEIB is a bold and strategic response to Liberia’s youth employment crisis.
With over 71% of the country’s population under the age of 35 and youth underutilization rates estimated at 76%, the Bank aims to unlock pathways for youth to move from informal employment and unemployment into entrepreneurship and productive enterprise.
Officially launching the program, President Boakai hailed the YEIB as one of the most vital undertakings of his administration.
“This program gives hope to our young people by turning them from job seekers into job creators,” he declared, disclosing “YEIB will provide the financing, mentorship, and technical skills our youth need to succeed in agriculture, technology, the knowledge-based economy, and other emerging sectors.”
The President said, YEIB is central to the government’s ARREST Agenda, which prioritizes Agriculture, Roads, Revenue, Education, Sanitation, and Tourism as the pillars of national transformation. He said the initiative is designed to nurture innovation, reduce unemployment, and drive inclusive growth through private sector engagement.
“The time has come to bet on our youth, not with words, but with action and capital,” President Boakai said. “Let this Bank be the bridge between dreams and reality. Let it ignite ambition, reward hard work, and prove to the world that Liberian youth are not just the future—they are the present, and they are ready.”
In special remarks, Dr. Adesina described the launch as a moment of historic significance for Liberia, saying, “Today is a day of hope. A day to invest in Liberia’s future. A day to unleash the entrepreneurial energy of the youth.”
Dr. Adesina noted that the Youth Entrepreneurship Investment Bank is not just an initiative, but a game-changer for Liberia’s next generation.
He disclosed that Liberia is the first country in Africa to operationalize a Youth Entrepreneurship Investment Bank under the AfDB’s continent-wide initiative.
YEIB, he explained, will operate through a private-sector-led Management Holding Company and include three core Special Purpose Vehicles (SPVs): Early-Stage Equity Fund, Technical Assistance Fund, and Credit Guarantee Fund.
He said the Bank will prioritize investments in key growth sectors such as agribusiness, digital services, mining, and tourism, with ambitious goals to reach 30,000 youth-led businesses, support 6,000 new and existing enterprises, create approximately 120,000 jobs, generate over $80 million in tax revenue and unlock up to $500 million in additional private and public financing for youth entrepreneurship in Liberia, among other programs.
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