Published: February 14, 2025
MONROVIA – President Joseph Boakai has asked the House of Representatives to approve a $10 million loan from the OPEC Fund for International Development to spur agro-industrial growth and cut Liberia’s heavy reliance on food imports.
The “Special Agro-Industrial Processing Zone Project Loan Agreement” seeks to establish agro-industrial zones to boost local food production, strengthen agricultural infrastructure, and create new opportunities for farmers and food processors.
In his communication to lawmakers, President Boakai underscored the loan’s importance in tackling food insecurity. “The primary objective of the project delineated within the agreement is to enhance food security through the promotion of agricultural productivity and the advancement of agro-industrial development,” he stated.
The House has forwarded the loan agreement to its committees on Ways, Means & Finance, Judiciary, Agriculture, and Banking & Currency for scrutiny. The committees are expected to report back within two weeks with recommendations on its feasibility and alignment with national development priorities.
If approved, the loan will fund infrastructure development in key agricultural zones, create jobs, and bolster the country’s food production capacity. The House’s decision will determine the next course of action for the project.
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