MONROVIA, May 27 (LINA) – The European Investment Bank, the EU Delegation in Liberia, the acting Minister of Finance and Development Planning and the Minister of Agriculture have signed a Rice Value Chain Cooperation Agreement.
The Rice Value Chain Cooperation Agreement pertains to the provision of technical assistance services.
The services include preparation of a detailed feasibility study that will assess the potential and challenges of the rice value chain in Liberia, in order to design and structure an investment program to be financed by the European Investment Bank potentially next year.
The services also include some project implementation support for the Ministry of Agriculture.
The rice value chain investment program aims at boosting rice production in the country, with a view to reducing Liberia’s dependency on rice imports.
It targets increasing both food and nutrition security, and the population’s access to decent work and entrepreneurship opportunities.
The rice value chain investment program aims at supporting the entire rice value chain, from inputs and seeds and irrigation to food laboratories, warehousing and distribution logistics.
The technical assistance services are financed by a grant from the European Development Fund under the Africa Investment Platform (AIP).
The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its 27 Member States.
It is the world’s largest international public bank and makes long-term finance available for sound investment in order to contribute towards EU policy goals.
The European Investment Bank has financed transformational public and private investment across Africa since 1965 and has been active in Liberia since 1978.
It has financed, in particular, the Mount Coffee hydro power plant rehabilitation and is currently financing the rehabilitation of the Sanniquellie to Loguato road.
