Monrovia – The Liberian Senate is deliberating a proposed bill from River Cess County Senator Wellington Geevon Smith, seeking to establish the Liberia Agriculture Enterprise Development Bank.
This is a move he claims will address the long-standing challenges faced by farmers. While the initiative is being portrayed as a transformative step for Liberia’s agricultural sector, critics question whether the government’s track record suggests a genuine commitment to empowering local farmers.
A joint committee, comprising members from the Senate Committees on Agriculture, Judiciary, and Banking, is currently reviewing the legislation. If passed, the bill would create a specialized financial institution dedicated to providing long-term loans to farmers and agribusinesses.
Senator Smith argues that existing commercial banks are ill-suited to meet the needs of agricultural enterprises due to their rigid loan repayment terms. According to him, requiring farmers to repay loans within three months makes agricultural investment nearly impossible.
“How do you expect our people to take out loans and repay them within three months when it comes to agriculture, especially for crops that take time to grow and harvest?” Smith questioned during a press briefing at his Capitol Building office in Monrovia.
While his concerns highlight a genuine barrier, critics point to deeper structural problems. Liberia’s agricultural sector faces systemic challenges, including poor infrastructure, inadequate policy implementation, and limited market access. Some argue that without addressing these foundational issues, establishing an agricultural bank may be little more than a symbolic gesture.
Senator Smith maintains that the initiative aligns with the government’s ARREST Agenda, where “A” stands for agriculture, and claims to have secured the backing of both President Joseph Boakai and Agriculture Minister Alexander Nuetah.
“There are genuine efforts underway to establish the Agriculture Enterprise Development Bank of Liberia, and we are taking the lead,” he told journalists.
However, critics are skeptical about the government’s ability to deliver. Despite repeated promises by past administrations to prioritize agricultural development, Liberia remains heavily dependent on food imports. Observers question whether the political will exists to see the proposed bank function effectively or whether it will become another underfunded institution burdened by bureaucracy.
Senator Smith disclosed plans for an initial investment of $4 million USD to launch the bank, suggesting additional contributions from “friendly financial institutions” would follow. Yet, there is little clarity on where these funds will come from or how the government plans to sustain the bank in the long term.
