The government of Liberia and the Foundation for African Development Aid Commercial (ADA) have signed a US$30 million concession Agreement for large-scale commercial rice production in Liberia.

The Rice Concession Agreement, which is the first of its kind in Liberia's agriculture history, is likely to help bridge the gap between locally produced rice and imported rice considerably.

The President and Chief Executive of ADA Commercial Incorporated, Wendell McIntosh, said the signing of the rice Concession Agreement will embark upon mechanized rice production so as to minimize Liberia's dependence on food imports, especially rice.