UK Company Signs $30m Concession Agreement with Liberia

An England-based international company, Foundation for African Development has signed a US$30 million concession agreement with the Liberian government for large-scale rice production in northern Liberia.

The agreement signed Saturday calls for large scale mechanized commercial rice production for a period of 20 years.

The public relations officer of the Agriculture Ministry told APA Sunday that under the agreement, 15,000 hectares of land would be utilized in northern Lofa and northeastern Nimba Counties for ‘intensive rice cultivation’.

The agreement is subject to review and ratification by the Liberian legislature.

Speaking during the signing ceremony, Agriculture Minister Dr. Chris Toe said the concession agreement would bridge the gap between locally produced and imported rice.

He noted that such development would enhance government’s capacity to provide jobs for its citizens and improve economic activities in the post-war country.

Despite its rich soil and adequate rainfall, Liberia currently depends on imports for 80 percent of the rice its citizens consume.

Rice, the West African country’s staple, is considered a political tool, and an attempt by the government of President William R. Tolbert to increase the price of rice led to the 1979 rice riots which set the stage for the long-drawn civil war in Liberia.

Source African Press Agency

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