By Amos Harris
Monrovia, Liberia – July 22, 2025 – President Joseph Nyuma Boakai today officially launched the Liberia Youth Entrepreneurship Investment Bank (YEIB), an initiative poised to fundamentally shift Liberia’s youth from job seekers to job creators. The landmark event, held at a high-level expanded cabinet meeting and special honoring ceremony at the Ministerial Complex in Congo Town, also saw President Boakai bestow national honors upon Dr. Akinwumi A. Adesina, President of the African Development Bank (AfDB), recognizing his visionary leadership and profound contributions to Africa’s development.
Addressing an audience that included government officials, entrepreneurs, development partners, civil society leaders, and members of the diplomatic corps, President Boakai hailed the YEIB as a bold and necessary response to Liberia’s pressing development needs, particularly concerning its burgeoning youth population.
“Over 60 percent of Liberia’s population is under 30,” the President noted. “This program directly touches the heart of Liberia’s future. It will equip young people with financing, mentorship, and skills to succeed in agriculture, technology, and knowledge-based enterprises.” Boakai emphasized that the YEIB signifies a critical shift in the national mindset, moving from dependency towards innovation and self-sufficiency. “We are shifting the mindset, empowering our youth to build and create, not wait. This is the beginning of a new chapter for Liberia’s future.”
President Boakai also took the opportunity to pay tribute to Dr. Akinwumi Adesina, whose tenure at the helm of the African Development Bank is nearing its end. Hailing Adesina as a “true friend of Liberia” and a leader whose vision has redefined development finance across the African continent, Boakai declared, “Dr. Adesina is not a stranger to Liberia. Under his leadership, the African Development Bank has grown in size and impact. In just ten years, the Bank has achieved what others could not in fifty; that’s not just progress, that is transformation.”
The President highlighted the AfDB’s current investment portfolio in Liberia, which totals US$48 million across 18 vital projects spanning transportation, agriculture, energy, infrastructure, and financial inclusion. These investments, he stressed, are creating tangible changes in the lives of ordinary Liberians—from lighting homes and connecting remote communities to boosting food security and creating sustainable jobs. “Your legacy in Liberia is strong and enduring,” Boakai told Dr. Adesina. “The programs you’ve championed will continue to change lives for years to come.” As a mark of national appreciation, President Boakai presented Dr. Adesina with a Special Presidential Pin, symbolizing Liberia’s gratitude for his unwavering support and leadership. “You have shown the world that bold ideas backed by vision and discipline can deliver extraordinary results,” Boakai stated.
Dr. Adesina, visibly moved by the recognition, expressed his deep appreciation to the government and people of Liberia, reaffirming the AfDB’s commitment to partnering with Liberia in advancing its development goals.
In his comprehensive remarks, President Boakai also addressed the critical issue of internal migration and the urgent need to invest in Liberia’s rural interior. He lamented the increasing trend of migration toward Monrovia, calling for renewed efforts to make rural communities livable and economically viable. “Everyone wants to come to the coast,” he said. “But we must make our people comfortable where they are. We must invest in the interior. Let’s give our children clean and safe learning environments. Let’s make rural Liberia livable.” The President pointed to the recent commissioning of the first modern high school in a rural district as a milestone achievement. “Clean environments lead to clean thinking,” he emphasized, “Our children can do better when given the right surroundings.”
Turning to governance and public sector reform, President Boakai reiterated his administration’s stance on accountability, transparency, and resource discipline. He decried the mismanagement of public resources by previous administrations and vowed to reverse the trend. “We inherited a lot, and now we are reeducating our people,” he said. “We must manage our resources well and invest them where they matter most. The problem is not the absence of dreams—it’s that too many forget their dreams while they’re still asleep.” On the fight against corruption, Boakai urged Liberians to move beyond rhetoric and toward decisive action. “We cannot just talk about corruption; we must act. You don’t curse the darkness; you turn on the light.”
President Boakai also commended the AfDB for providing opportunities to young Liberian professionals, praising Dr. Adesina for offering employment to Liberians at the Bank, which he described as a show of confidence in the country’s human capital. “You’ve given Liberia not just investments, but inspiration,” he said. “You have taken some of our finest minds into your fold without complaint; for all of that, we are grateful.”
The events of the day, with the launch of the YEIB and the honoring of Dr. Adesina, signified more than just ceremonial moments; they represented Liberia’s renewed commitment to youth empowerment, institutional renewal, and inclusive development. As Liberia charts a new course, the initiatives launched and the partnerships celebrated on this historic day serve as a clarion call for sustained action, bold leadership, and a national renaissance led by the country’s most valuable asset: its youth.
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