The Government of Liberia and the European Union (EU) have entered into a €56 million financing agreement to support Liberia's development goals. This agreement, signed in Monrovia, includes €56 million (US$62 million) for direct budget support and an additional €7 million (US$7.7 million) aimed at enhancing public financial oversight and accountability.
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, formalized the agreement.
During the signing ceremony, EU Ambassador to Liberia, H.E. Nona Deprez, expressed that the EU's allocation of significant resources through direct budget support indicates confidence in Liberia's commitment to reforms and governance improvements. "The €7 million allocated for complementary measures will provide targeted technical assistance to improve budgeting, auditing, and domestic resource mobilization systems," she stated. The funding is intended to enhance civil society organizations' ability to hold both government and legislature accountable.
Ambassador Deprez highlighted that disbursements under this agreement would be performance-based, linked to reform progress from 2025 to 2027.
Finance Minister Ngafuan praised the EU on behalf of President Joseph Boakai and Liberians for its consistent partnership. “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 remarked.
Minister Ngafuan also reiterated Liberia’s efforts to increase domestic revenue generation supporting key economic sectors.
The EU emphasized that this financing arrangement showcases a robust strategic partnership with Liberia focused on good governance, accountability, and sustainable development.
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