MONROVIA, LIBERIA-Rice processors and producers in Liberia are to benefit from a four-hundred-thousand United States Dollars program to increase rice production.
On Thursday, March 26, 2020, the Government of Liberia signed a Cash Collateral Agreement with the Afriland First Bank to provide the funds to the rice processors and producers.
As part of the agreement, the Ministry of Finance will provide the funding to the Bank for onward submission to local rice processors and producers to buy paddy rice from Liberian farmers for processing and sale to the Liberian Government.
Speaking at the signing ceremony, Finance Minister Samuel Tweah said:” The move is in line with President George Weah’s vision of ensuring of Liberia is rice sufficient and food secured in the middle term.”
For her part, Agriculture Minister Jeanine Cooper lauded the initiative and stressed the need for Liberia to focus on local food production in the face of the Coronavirus outbreak.