Published: June 17, 2025
MONROVIA, Liberia – The European Union and the government of Liberia on Monday signed a €25 million financing agreement aimed at strengthening private sector development, with a focus on value chains in cassava, fisheries and wood processing.
The agreement was signed in Monrovia by EU Ambassador Nona Deprez and Liberia’s Minister of Finance and Development Planning, Augustine Ngafuan.
According to Ambassador Deprez, the project is designed to support micro, small and medium-sized enterprises, while promoting women’s empowerment, youth entrepreneurship and decent work opportunities in rural and underserved areas.
She said the initiative also seeks to reduce Liberia’s reliance on imports and help position the country as a net exporter of key agricultural and forest products.
“This initiative reflects our shared commitment to promoting inclusive economic growth and sustainability in Liberia,” Deprez said.
The program will also improve access to finance for small businesses through partnerships with the Central Bank of Liberia and other financial institutions. In addition, it will support a public-private dialogue platform intended to strengthen collaboration between the government and the private sector and help guide future policy reforms.
Ngafuan praised the EU for its continued support and described the agreement as a significant step forward in Liberia’s national development strategy.
“This investment will stimulate job creation and enhance the competitiveness of Liberian businesses, particularly in strategic sectors where we have comparative advantages,” he said.
Ngafuan added that the government remains committed to supporting the private sector and will not abandon its role in fostering economic growth.
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