Senators are asked to consider the creation of a state-owned investment bank for Nimba County to help farmers improve agricultural yields and bolster trade.
The plan aims to boost confidence in the financial sector, accelerate trade, and ease commercial transactions across the region.
It would also expand access to credit, particularly for farmers and small businesses, and to channel regional economic growth into broader development.
Senator Samuel Kogar, who proposed the idea, said the bank would make it easier for local farmers to obtain loans to increase yields and support the county’s growing cash-crop industries.
“Nimba has huge financial potential,” he said.
“There is strong growth in rubber and other cash crops, and a development bank could help translate that potential into sustainable economic gains.”
Proponents envision the bank drawing on deposits from multinational firms operating in the county, including steelmaker ArcelorMittal, to build a local capital base that can be lent back into the economy.
ArcelorMittal’s Liberian operations reported production of 16.7 million tonnes of iron ore and shipments of 17.9 million tonnes in the first half of 2025, contributing to the parent company’s net income of $2.598 billion over the same period.
Nimba is one of Liberia’s fastest-developing counties, with an economy driven by rich natural resources and a strategic location bordering Guinea and Côte d’Ivoire. Covering some 11,551 square miles (29,920 km²) — larger than the U.S. state of Delaware.
The county hosts significant iron ore deposits around Yekepa and Tokedeh and has potential for gold and diamond mining.
Agriculture also plays a vital role: fertile soils support large-scale cash crops such as cocoa and coffee as well as subsistence farming and staples like rice.
According to the 2022 census by the Liberia Institute of Statistics and Geo-Information Services, Nimba County has a population of 621,841, making it the country’s second-most populous county after Montserrado.
Liberia economy will grow 5.4% in 2026, driven by expected expansion in mining – mainly gold and iron ore and recovery in agricultural production.
