The Ministry of Commerce & Industry (MoCI) is leaving no stone unturned in addressing trade-related issues across Liberia. The Ministry’s efforts include collaborating with local and international development partners to galvanize the needed resources to support local businesses; including women and youth-led enterprises. One of these notable programs is the Government of Liberia-led UA$12m Youth Entrepreneurship and Investment Bank (YEIB), financed by the African Development and implemented through the Ministry of Commerce & Industry (MoCI). 

The project has four major components. They include development of a youth entrepreneurship oversight, establishing youth-dedicated institutions, deploying YEIB services and project management. The overarching goal of the program is to strengthen financial and non-financial businesses to young women and men entrepreneurs in Liberia to address issues of financial inclusion in order to reduce vulnerabilities by supporting long-term sustainability, etc. Today’s meeting, purposely designed for update on progress took place between the Ministry of Commerce & Industry and the African Development Bank (AfDB at the EJS Ministerial Complex in Congo Town. 

Highlights were also thrown on the finalization and approval of a US$1million proposal, under the Fund for African Private Sector Assistance (FAPA) following Clarence of the Project Evaluation Note (PEN) for the strengthening of the YEIB enabling environment and investment readiness for youth-led MSMEs. The update meeting saw the Minister of Commerce & Industry, Magdalene E. Dagoseh and her counterparts from the African Development Bank, Sofiane Sekioud (Chief Investment Officer) and Aghaby Vanni (Fragility   Officer) express the need for continued engagements.