Support increased rice production in Liberia

Start & End Date: 2022-Ongoing

Country/Countries: Liberia

Multilateral Institution(s) Involved: European Investment Bank

The Russian attack on Ukraine is having consequences on food and commodity prices all over the world, including in Liberia. The European Union recognise the importance of supporting local rice production to reduce Liberia’s dependency on rice imports and increase local rice production. “Rice is Liberia’s staple food, but we don’t produce it. The new rice investment program backed by the European Investment Bank and the European Union ensures that Liberia can accelerate sustainable development and avoid food price shocks by increasing local rice production."

The European Investment Bank is committed to scaling up investment to strengthen food security, improve domestic agricultural production and create jobs and reduce the impact of global food supply shocks on local consumers. Over the coming months detailed feasibility studies will identify priority investment that can transform rice production in Liberia and enable large scale financing across the sector. The EUR 4 million agreement between the Liberian government and European Investment Bank (EIB) will prepare detailed feasibility studies to assess the potential and challenges of the rice value chain in Liberia and support project implementation. The EIB and Liberian partners can then design and structure an investment program that is expected to be launched next year.