Rome, Italy – President Joseph Nyuma Boakai, Sr. yesterday met with a delegation from the European Investment Bank (EIB), led by the Bank’s Vice President for West and Central Africa, Madam Gelsomina Vigliotti, to discuss a $50 million concessional loan aimed at Rice Value Chain development in Liberia.

During the meeting, Vice President Vigliotti emphasized the EIB’s commitment to partnering with the Liberian Government in supporting sustainable agricultural development.

The loan, when finalized, will fund development of critical infrastructure to enhance rice production and support the country’s goal of becoming more self-sufficient in food production.

The initiative involves collaboration with expertise from the Food and Agriculture Organization of the United Nations to maximize its impact.

President Boakai welcomed the proposed support, highlighting the urgent need to rebuild Liberia’s agricultural systems, many of which were decimated by the country’s 14-year civil crisis.

He stressed the importance of utilizing existing local infrastructure and expertise to ensure the success of the project.

“We must work with those who know the land and the needs of our farmers,” President Boakai stated, adding,  “The revitalization of our agricultural sector is key to rebuilding our economy and ensuring food security for our people.”

The delegation from the EIB noted that discussions were progressing quickly, with the project slated to begin in the near future. They commended the Minister of Agriculture for Liberia’s National Agricultural Development Plan and assured the Government of their commitment to aligning the project with the Government's agriculture development agenda.

Liberia’s Agriculture Minister, Dr. Alexander Nuetah, also participated in the meeting, expressing the importance of EIB project's alignment with country’s agriculture development priorities enshrined in the NADP.

“We are focused on maximizing production by encouraging farmers to move to lowland areas where irrigation systems can be more easily managed,” Minister Nuetah said. He emphasized that access to markets and proper water management would be critical to the success of the initiative.

In conclusion, President Boakai urged the EIB and its partners to ensure the project is carried out efficiently through a coordinated and collaborative approach. He admonished the Team to ensure that they address Liberia’s agriculture development priorities as indicated in the country’s agriclture development plan.

The EIB delegation included Vice President Gelsomina Vigliotti, Head of the Bio-Economy Division Felipe Ortega Schillingmann, Head of West and Central Africa Public Sector Unit Svetia Stoeva, and Senior Economist Blanca Amado.

Agriculture remains central to the Government’s development agenda.