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Economic development

Liberia Launches First Youth Entrepreneurship Investment Bank

Strategic Insights

— 2 min read

Liberia has become the first country to launch the African Development Bank Group's Youth Entrepreneurship Investment Bank (YEIB) initiative, aimed at creating entrepreneurship opportunities for young Africans aged 18-35. The bank, which was launched by President Joseph Nyuma Boakai and African Development Bank Group President Dr. Akinwumi A. Adesina, will finance 30,000 youth-led businesses, create 120,000 direct and indirect jobs, and contribute $80 million to government revenues through taxes.

Key Takeaways:

  • The Youth Entrepreneurship Investment Bank will promote private sector-led inclusive economic development and create entrepreneurship opportunities for young Africans aged 18-35.
  • The bank is expected to finance 30,000 youth-led businesses, create 120,000 direct and indirect jobs, contribute $80 million to government revenues through taxes, and unlock up to $500 million in additional lending to youth-owned businesses across the country.
  • The YEIB is being jointly financed by the African Development Fund ($15.9 million) and the Government of Liberia ($1.2 million in in-kind contributions).
  • President Boakai stated that the YEIB will provide hope to young people by turning them from job seekers into job creators, and that it will provide financing, mentorship, and the skills needed to succeed in agriculture, technology, and other emerging sectors.
  • Dr. Adesina emphasized that the future of Liberia's youth cannot be left to "hustling," and that the YEIB will focus on "critical sectors with immense opportunities for the youth, including agriculture, value addition with agribusiness, digital services, mining, and tourism."
  • The African Development Bank has invested over $1.02 billion in 72 projects in Liberia since 1967, and as of February 2024, it had an active portfolio of 18 sovereign operations worth $314.77 million.
  • The Bank's Country Focus Report 2025 highlights that underemployment and informal employment have long undermined Liberia's ability to harness its key demographic strength.

Statistics:

  • 60% of Liberia's population is under the age of 30 (President Boakai).
  • 30,000 youth-led businesses will be financed by the YEIB.
  • 120,000 direct and indirect jobs will be created by the YEIB.
  • $80 million in government revenues will be contributed by the YEIB through taxes.
  • $500 million in additional lending to youth-owned businesses will be unlocked by the YEIB.
  • $15.9 million of the YEIB's financing will come from the African Development Fund.
  • $1.2 million in in-kind contributions to the YEIB will come from the Government of Liberia.
  • The African Development Bank has invested over $1.02 billion in 72 projects in Liberia since 1967.
  • As of February 2024, the Bank had an active portfolio of 18 sovereign operations worth $314.77 million in Liberia.

Sources:

  • "President Boakai's speech at the YEIB launch" (https://apo-opa.co/4m7qBbI)
  • "Dr. Adesina's speech at the YEIB launch" (https://apo-opa.co/3H11fNR)
  • African Development Bank Group's Country Focus Report 2025 (https://apo-opa.co/3GRnm9E)
  • African Development Bank Group's website (www.AfDB.org)
  • APO Group's press release on the YEIB launch (https://apo-opa.co/413UWzR)

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