By: TPA News Desk | Local Stories | www.thepointafricanews.com/africa/business

Aimed at empowering its burgeoning young population, Liberia has officially launched a US$16 million Youth Entrepreneurship Investment Bank (YEIB). The initiative, officially unveiled by President Joseph N. Boakai on Tuesday, July 22, 2025, at the EJS Ministerial Complex in Congo Town, is envisioned as a direct catalyst for the nation’s economic transformation.

President Boakai, speaking at the launch, underscored the profound significance of the new institution, stating, “The YEIB is a direct investment in the future and existence of the Liberian state, not merely a program.” His remarks highlighted the government’s strategic intent to position Liberia’s youth as the primary driving force behind the country’s economic change.

The launch was a key highlight of the visit by African Development Bank (AfDB) President Dr. Akinwumi A. Adesina to Liberia from July 21 to July 23, 2025. Dr. Adesina confirmed the US$16 million commitment from the AfDB for the YEIB, emphasizing that the program aims to shift thousands of young Liberians from job seekers to job creators. The YEIB is projected to reach over 30,000 youth-led businesses, provide direct financing to 6,000 of them, and is expected to create more than 120,000 jobs. It is also anticipated to generate an additional US18millionintaxrevenuesandcatalyzeafurtherUS500 million in lending for youth-run enterprises.

The establishment of the YEIB is a critical step in addressing youth unemployment and fostering an entrepreneurial ecosystem in Liberia. It is anticipated to provide much-needed financial access and support for young Liberians to develop and scale their businesses, thereby contributing significantly to job creation and national economic growth. The bank will prioritize strategic growth sectors such as agriculture, agribusiness, digital services, tourism, and mining.