Liberia targets 120,000 jobs via youth entrepreneurship program

The Liberian government has announced the Youth Entrepreneurship and Investment Bank (YEIB) initiative, which aims to create approximately 120,000 jobs for young citizens. Finance and Development Planning Minister Augustine Kpehe Ngafuan stated that the program is designed to provide capital, training, and guarantees to roughly 37,000 youth-led businesses across the country.

Eligible entrepreneurs between the ages of 18 and 35 may receive financing of up to US$20,000 to expand their enterprises. Minister Ngafuan clarified that these funds are structured as low-risk financing rather than grants. The government has already opened an application process for the first 50 youth-owned businesses.

Additionally, the Finance Minister addressed concerns regarding the national exchange rate, noting that the government is implementing policy measures to maintain foreign exchange market stability.