By Jamesetta D. Williams
MONROVIA—The Government of Liberia has highlighted the Youth Entrepreneurship Investment Bank (YEIB) as one of its major interventions aimed at expanding economic opportunities for young Liberians.
Information Minister Jerolinmek Matthew Piah said the initiative involves approximately US$17.8 million in support targeting up to 30,000 youth-led businesses.
He made the disclosure during Tuesday’s Ministry of Information press conference while outlining progress under the Government of Liberia’s ARREST Agenda for Inclusive Development.
Minister Piah said the initiative is intended to strengthen youth entrepreneurship by providing young Liberians with access to financial resources and support for their businesses.
The Youth Entrepreneurship Investment Bank was launched with support from the African Development Bank and is designed to support more than 30,000 youth-led businesses over its implementation period.
The African Development Bank has described the initiative as a major financing mechanism for youth entrepreneurship in Liberia, with the broader program expected to create significant employment and unlock additional lending for youth-owned businesses.
Minister Piah said the intervention forms part of the government’s broader economic transformation strategy, particularly efforts to provide young Liberians with opportunities to become entrepreneurs and create employment.
He said the government believes supporting youth-owned businesses will contribute to economic growth, poverty reduction and job creation.
The Minister added that the YEIB is among the programs being used to demonstrate the government’s commitment to translating the ARREST Agenda into practical opportunities for citizens.
He said further updates on the implementation of the program and other components of the national development plan will be provided as the government continues its review of progress
About The Author
