The Government of Liberia, in partnership with the African Development Bank Group (AfDB), has launched the Youth Entrepreneurship Investment Bank (YEIB), a landmark initiative aimed at transforming young Liberians from job seekers into job creators.
The launch ceremony, held on July 23 at the EJS Ministerial Complex in Congo Town, was attended by President Joseph Boakai, AfDB President Dr. Akinwumi A. Adesina, senior government officials, development partners, youth leaders, and members of Liberia’s traditional council.
Jointly financed by the African Development Fund (US$15.9 million), Korea Africa Economic Cooperation (US$0.7 million), and US$1.2 million in in-kind support from the Liberian government, YEIB is designed to tackle the country’s youth employment crisis.
With 71% of Liberia’s population under the age of 35 and youth underutilization rates hovering around 76%, the Bank seeks to create opportunities for youth to transition from unemployment and informal work to entrepreneurship and productive enterprise.
President Boakai described YEIB as a cornerstone of his administration’s ARREST Agenda, which focuses on Agriculture, Roads, Revenue, Education, Sanitation, and Tourism as pillars of national development.
“This program gives hope to our young people by turning them from job seekers into job creators,” President Boakai declared.
“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.”
Calling for immediate action, he added: “The time has come to bet on our youth, not with words, but with action and capital. 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.”
Dr. Adesina hailed the initiative as a historic milestone, noting that Liberia is the first African nation to operationalize a Youth Entrepreneurship Investment Bank under the AfDB’s continent-wide strategy.
“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 said, describing YEIB as a “game-changer for Liberia’s next generation.”
The Bank will be managed by a private-sector-led holding company and feature three Special Purpose Vehicles: an Early-Stage Equity Fund, a Technical Assistance Fund, and a Credit Guarantee Fund.
It will target investments in key growth sectors such as agribusiness, digital services, mining, and tourism.
YEIB aims to support 30,000 youth-led businesses, assist 6,000 enterprises, create 120,000 jobs, generate $80 million in tax revenue, and mobilize up to $500 million in additional private and public financing for youth entrepreneurship in Liberia.
About The Author
