EU commits $70 million to Liberia in boost for public finance and reform

Published: May 13, 2025

Monrovia – The European Union has committed $70 million to Liberia through a new financing agreement signed Monday, marking a major boost to the country’s public financial management and governance reform agenda.

Of the total amount, $62 million will be provided in direct budget support, while $7.7 million will fund complementary measures aimed at strengthening financial oversight, transparency and institutional capacity.

Finance and Development Planning Minister Augustine Ngafuan signed the agreement on behalf of the Liberian government. Ambassador Nona Deprez, head of the EU Delegation to Liberia, signed on behalf of the European Union.

Ambassador Deprez described the deal as a reaffirmation of the EU’s enduring support for Liberia’s development priorities.

“This agreement underscores the EU’s strong and enduring partnership with Liberia,” she said. “Our support will enable the government to pursue vital reforms in public finance, improve service delivery and enhance accountability.”

The disbursement of the funds will be performance-based, tied to key indicators agreed upon by both the EU Delegation and the Liberian government. These include improved public financial management systems, increased domestic revenue mobilization—particularly in the natural resources sector—and enhanced transparency and institutional oversight.

Ngafuan hailed the agreement as a vote of confidence in Liberia’s reform path.

“This is more than just financial aid,” he said. “It empowers us to implement transformational changes in how we manage public resources, stimulate economic growth and protect our environment.”

He added that the government remains fully committed to meeting the agreed targets, emphasizing that the EU partnership will be instrumental in advancing Liberia’s broader development and governance goals.

The EU has long been one of Liberia’s key development partners, supporting programs in health, education, agriculture, infrastructure and democratic governance. The latest funding marks a continuation of that relationship and comes as Liberia works to stabilize its economy and strengthen its public institutions.