Rome, Italy - The Vice President of the European Investment Bank for West and Central Africa Public Sector Team, at the head of a four-member delegation, met with President Joseph Nyuma Boakai in Rome Tuesday.

Speaking during the meeting the Vice President of the Bank, Madam Gelsomina Vigliotti, said the European Investment Bank and the Government of Liberia are engaged in talks for a fifty million dollar (US $ 50,000,000) concessional loan for the development of agriculture in the country, mainly in the area of rice production.

President Boakai welcomed the move by the European Investment Bank and spoke of the need for rebuilding Liberia's broken agriculture systems and infrastructure that were destroyed as a result of the fourteen years of civil crisis in the nation.

President Boakai stressed the need for the European Investment Bank to work with Liberians by using existing structures on the ground in the sector for the realization of the project.

The Delegation informed President Boakai that the project will start in the shortest possible time if discussions are concluded because, according to them, there's urgent need to increase self-sufficiency in the production of rice as this issue has been in the works for some time now.
The Team also noted that the expertise of the Food and Agriculture Organization of the United Nations will be drawn in to maximize the effectiveness of the Loan.

The Bank officials hailed the National Agricultural Development Plan of the Government of Liberia adding "there's need to increase efficiency by fast tracking different projects that have been left stranded."

President Boakai further pointed out the need to rehabilitate irrigation systems in the country. He also mentioned the importance of working with people who already know what to do in the sector.

Agriculture Minister Dr. Alexander Neutah, who was also in the meeting, spoke about implementing the project in a location that will bring maximum results to the country.

Minister Neutah said access to the markets is crucial, irrigation is also critical because according to him the Agriculture Ministry is encouraging farmers to move to the lowlands where control of the water system will bring about multiple crop production.

The Vice President of the European Investment Bank reassured President Boakai of her Bank's commitment to supporting Liberia in this sector.

In conclusion, President Boakai encouraged the Bank and it's partners to implement the project through an effective coordination mechanism.

The delegation of the bank comprised of it's Vice President Gelsomina Vigliitti, the head of Bio Economy Division Felipe Ortega Schllingmann, Head of West and Central Africa Public Sector Unit Svetia Stoeva and Senior Economist Blanca Amado Nin.