President Joseph Nyuma Boakai has heaped commendations on visiting Africa Development Bank president, Dr. Akinwumi Adesina, who is in the country this week to participate in the launch of the Liberia’s Youth Entrepreneurship Investment Bank.

In a landmark ceremony held at the EJS Ministerial Complex on Tuesday, the Liberian leader also honored the outgoing President of the African Development Bank (AfDB), for his decade-long legacy of transformative leadership across the continent.

The event also marked the official launch of the Youth Entrepreneurship Investment Bank (YEIB), a pioneering financial institution tailored to empower Liberia’s burgeoning youth population.

“Dr. Adesina is not a stranger to Liberia,” President Boakai told a hall filled with dignitaries from all three branches of government, foreign diplomats, development partners, and youth representatives.

“He has been a trusted partner and a champion for Africa’s development. His work has redefined the role of development finance on our continent,” he said acknowledging that under Adesina’s stewardship, the African Development Bank’s capital has expanded from $93 billion in 2015 to $318 billion in 2025.

“That’s not just progress,” Boakai emphasized. “That’s transformation.”

The President noted that the Bank’s support to Liberia has been tangible, with an active portfolio of 18 projects valued at $408 million, spanning infrastructure, energy, agriculture, and public sector reform. “These investments are not just numbers on paper. They are roads, power lines, farms, and services that touch the daily lives of Liberians,” he said.

YEIB: A Turning Point for Liberia’s Youth

The centerpiece of Tuesday’s occasion was the launch of the Youth Entrepreneurship Investment Bank of Liberia — the first of its kind on the continent. Funded with $16 million from the AfDB, the YEIB is a direct response to the country’s youth bulge, with over 60% of Liberians under the age of 30.

“This program turns young Liberians from job seekers into job creators,” Boakai declared. “It gives hope, mentorship, and financing for ventures in agriculture, technology, and the knowledge economy — and it aligns perfectly with our ARREST Agenda.”

The ARREST Agenda, which stands for Agriculture, Roads, Rule of Law, Education, Sanitation, and Tourism, is the Boakai administration’s roadmap for national revitalization.

In his remarks, Dr. Adesina praised the alignment between the ARREST framework and the AfDB’s flagship “High5s” strategy: Light Up and Power Africa, Feed Africa, Industrialize Africa, Integrate Africa, and Improve the Quality of Life of Africans.

A Farewell Address Rich with Lessons

Delivering a rousing keynote titled “Liberia: Arise and Shine,” Dr. Adesina, in his farewell tour as AfDB President, traced Liberia’s foundational role in the Bank’s history, crediting Liberian economist Dr. Romeo Horton for conceiving the idea in the 1960s.

“Liberia is where the dream of the African Development Bank began,” Adesina said. “And today, we return to that dream, transformed, strengthened, and more determined than ever.”

He detailed AfDB’s accomplishments in Liberia: from 177 kilometers of roads completed to over 2,400 kilometers of energy transmission lines installed, including strategic connections to the West African power pool. The Bank’s interventions have expanded electricity to 39,792 new households and institutions, supported the development of agriculture, and financed capacity-building for over 100 young professionals.

Adesina’s remarks, however, went beyond achievements — they served as a blueprint for governance and impact. He offered seven key lessons from his tenure, calling on Liberia’s leadership to:

“Ministers are not small Presidents,” he stated bluntly. “They are enablers of the President’s vision. And if they don’t deliver, change the game plan.”

Dr. Adesina also warned that Liberia’s future depends on how it manages its natural resources. “The export of raw materials is the door to poverty. The export of value-added goods is the highway to wealth,” he declared, to roaring applause.

Closing the event, President Boakai reiterated his administration’s commitment to development, good governance, and youth empowerment. “Liberia must shine — for itself, for Africa, and for the black race,” he said.

In a symbolic gesture, President Boakai also dedicated a new model school building as a national inspiration for education infrastructure.

As the sun set over the EJS Ministerial Complex, Liberia celebrated not only a decade of partnership with the African Development Bank, but a fresh beginning — one powered by vision, youth, and a promise to rise.