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ADNews-Monrovia, Liberia: The Government of Liberia and the European Union (EU) have signed a €56 million (US$62 million) financing agreement to support Liberia’s national development priorities, with a strong focus on governance and public financial management.
The agreement, finalized on Tuesday, May 13, 2025, in Monrovia, forms part of a broader €63 million (US$69.7 million) package. It includes €56 million in direct budget support and an additional €7 million (US$7.7 million) for complementary measures aimed at enhancing public financial oversight and accountability.
The financing agreement was signed by Liberia’s Minister of Finance and Development Planning, Hon. Augustine Kpehe Ngafuan, and Mr. Hans Stausboll, Acting Director for Africa at the European Commission’s Directorate-General for International Partnerships.
During the signing ceremony, EU Ambassador to Liberia, H.E. Nona Deprez, emphasized the EU’s confidence in the Liberian government’s reform agenda.
“The EU’s decision to provide significant direct budget support reflects our trust in Liberia’s commitment to ambitious reforms, fiscal transparency, and improved governance,” said Ambassador Deprez.
She further explained that the €7 million in complementary support would be used to provide targeted technical assistance for improving budgeting, auditing, and domestic resource mobilization. It will also strengthen civil society organizations to ensure greater government and legislative accountability.
Ambassador Deprez noted that the disbursement of funds will be performance-based, linked to tangible progress in reform implementation between 2025 and 2027.
Finance Minister Ngafuan, speaking on behalf of President Joseph Boakai and the Liberian people, praised the EU for its continued commitment.
“While some partners are retreating from their commitments, the European Union is standing firm and delivering for the Liberian people. This is truly commendable,” he said.
Minister Ngafuan also reaffirmed the government’s commitment to boosting domestic revenue generation in order to sustain key sectors of the economy.
The EU highlighted that the agreement represents a deepening of the strategic partnership between the European Union and Liberia, one rooted in shared values of good governance, accountability, and sustainable development.
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