By: Archie Boan
The 55th House of Representatives has passed an act seeking to establish the Agriculture Enterprises Development Bank of Liberia, a major legislative move aimed at boosting financing and institutional support for the country’s agriculture sector.
The passage followed a report from the House Committee on Agriculture, which reviewed the proposed legislation titled: “An Act to Create the Agriculture Enterprises Development Bank of Liberia.”
The bill was introduced by Grand Bassa County Electoral District #4 Representative Alfred H. Flomo, who is said to be championing the measure as part of broader efforts to strengthen agricultural productivity, empower local farmers, and expand access to credit for agribusinesses across Liberia.
Lawmakers backing the act believe the creation of a specialized agriculture bank could help tackle one of the biggest obstacles facing Liberian farmers and agriculture entrepreneurs limited access to financing. For years, many smallholder farmers and agriculture-related businesses have struggled to secure loans from traditional commercial banks due to high interest rates, collateral demands, and weak financial inclusion.
The proposed Agriculture Enterprises Development Bank is expected to serve as a dedicated financial institution focused on supporting agricultural investment, food production, value addition, and rural economic growth.
Hon. Flomo said the institution could play a key role in reducing Liberia’s heavy dependence on imported food while stimulating domestic production.
The act now moved to the Liberian Senate for concurrence and onward actions.
