By James T. Brooks
MONROVIA — In a bid to expand employment opportunities and revitalize the agricultural sector, Liberian President Joseph N. Boakai, Sr. has submitted an $18 million loan agreement to the House of Representatives for ratification, aiming to boost investment in the nation’s rubber industry.
The agreement, structured between the Government of Liberia and CGL International Limited, is designed to fund the establishment and operation of a modern natural rubber processing and production facility in Bong County.
In a formal communication read during a legislative sitting, the President detailed that the proposed factory will process raw materials and manufacture finished goods, ranging from processed wood products to rubber rain boots.
President Boakai emphasized that legislative endorsement of the deal will foster value addition within the domestic rubber sector, shifting Liberia away from exporting raw latex and toward manufacturing high-value products. The venture is projected to create at least 300 direct jobs over ten years, while also generating secondary employment and stimulating economic activity across neighboring communities.
“Honorable Speaker, I therefore urge the Legislature to ratify this agreement promptly, as it will significantly contribute to the growth of our gross domestic product,” President Boakai wrote, noting that the initiative aligns with his administration’s broader economic agenda.
Following the reading of the presidential communication, Representative Sumo Mulbah of Montserrado County District #3 introduced a motion to formally receive the proposal. Under the approved motion, the House plenary forwarded the agreement to the Committee on Investment for a comprehensive review. The committee is expected to examine the instrument and report its findings to the plenary when lawmakers return from their legislative recess in October.
