Liberian President Boakai applauds Adesina’s legacy, unveils YEIB

By Peter Oyedele — Abuja

Liberian President Joseph Nyuma Boakai has hailed outgoing African Development Bank (AfDB) President Dr. Akinwumi Adesina for his transformative leadership across the continent, as Liberia launched its pioneering Youth Entrepreneurship Investment Bank (YEIB) on Tuesday in Monrovia.

At a high-profile event held at the EJS Ministerial Complex, President Boakai described Dr. Adesina as a “trusted partner and a champion for Africa’s development,” applauding his decade-long stewardship which saw the Bank’s capital base expand from $93 billion in 2015 to an impressive $318 billion in 2025.

The occasion marked a historic moment for Liberia with the official unveiling of the YEIB — the first of its kind in Africa — funded with $16 million from the AfDB. The initiative is designed to empower young Liberians by providing mentorship, financing, and resources to help transform them from job seekers into job creators, particularly in sectors such as agriculture, technology, and the knowledge economy.

Boakai said the initiative aligns with his administration’s ARREST Agenda, which focuses on Agriculture, Roads, Rule of Law, Education, Sanitation, and Tourism as pillars of national renewal. “This bank gives hope and opportunity to our young people. It’s not just an investment in business; it’s an investment in the future of Liberia,” he said.

The President also commended AfDB’s ongoing support to Liberia, which includes 18 active projects worth $408 million in infrastructure, energy, agriculture, and governance reforms. “These investments are not just numbers on paper,” Boakai said. “They are roads, power lines, farms, and services that touch the daily lives of Liberians.”

Delivering a keynote address titled “Liberia: Arise and Shine,” Dr. Adesina underscored Liberia’s historical connection to the AfDB, tracing the idea’s origins to Liberian economist Dr. Romeo Horton, who conceived the concept in the 1960s.

“Liberia is where the dream of the African Development Bank began,” Adesina said. “Today, we return to that dream — strengthened and more determined to move the African continent forward.”

He outlined AfDB’s achievements in Liberia under his leadership, including the construction of 177 kilometers of roads, installation of 2,400 kilometers of energy transmission lines, and extension of electricity to 39,792 households and institutions. Additionally, the Bank supported youth development programs, including capacity-building for over 100 young professionals.

Beyond highlighting infrastructure, Adesina delivered governance insights from his tenure, offering seven leadership lessons, stressing that “Ministers are enablers of the President’s vision,” and that ineffective leadership stalls national progress.

He also emphasized the need for value addition in Liberia’s natural resource management. “The export of raw materials is the door to poverty. The export of value-added goods is the highway to wealth,” he cautioned.

In closing, President Boakai reaffirmed his government’s commitment to youth-focused policies, good governance, and sustainable development. “Liberia must shine — for itself, for Africa, and for the Black race,” he declared.

The launch of the YEIB signals a bold step in Liberia’s post-war recovery and economic revival efforts, with high hopes placed on the youth as agents of innovation and change.

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