Pres. Boakai Engages EIB Executives to Secure $50 Million Agriculture Development Loan

By: Alphanso G. Kalama

Rome, Italy – As part of a significant step towards enhancing agricultural development in Liberia, President Joseph Nyuma Boakai, Sr. met with executives from the European Investment Bank (EIB) yesterday to discuss a proposed $50 million concessional loan focused on the Rice Value Chain. The meeting, led by EIB Vice President for West and Central Africa, Madam Gelsomina Vigliotti, underscored the bank’s commitment to supporting Liberia’s sustainable agricultural growth.

The anticipated loan aims to bolster critical infrastructure needed to enhance rice production, aligning with Liberia’s goal of achieving greater food self-sufficiency. The initiative will be implemented in collaboration with the Food and Agriculture Organization (FAO) to maximize its impact on local farmers and the agricultural landscape.

President Boakai welcomed the initiative, highlighting the pressing need to rejuvenate Liberia’s agricultural systems, which suffered extensive damage during the 14-year civil crisis. “We must work with those who know the land and the needs of our farmers,” he stated. He emphasized that revitalizing the agricultural sector is vital for rebuilding the economy and ensuring food security.

Vice President Vigliotti noted the swift progress of discussions, expressing confidence in aligning the project with Liberia’s National Agricultural Development Plan (NADP). The EIB delegation commended the Minister of Agriculture, Dr. Alexander Nuetah, for his leadership in developing the country’s agricultural strategy.

Minister Nuetah underscored the importance of focusing on lowland areas where irrigation systems can be effectively managed, emphasizing that access to markets and proper water management are essential for the project’s success.

Concluding the meeting, President Boakai urged the EIB and its partners to adopt a coordinated approach to implement the project efficiently, ensuring alignment with Liberia’s agricultural development priorities.

The EIB delegation included key officials such as Felipe Ortega Schillingmann, Head of the Bio-Economy Division, Svetia Stoeva, Head of the West and Central Africa Public Sector Unit, and Senior Economist Blanca Amado.

As agriculture remains central to the Liberian Government’s development agenda, this potential partnership with the EIB marks a promising step towards sustainable growth and food security in the nation.

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