Monrovia, Liberia – The Government of Liberia and the European Union (EU) have signed a €56 million financing agreement aimed at supporting Liberia’s development priorities.
The financing package of €63M signed Tuesday in Monrovia comprises €56 million (US$62 million) in direct budget support and an additional €7 million (US$7.7 million) for complementary measures designed to strengthen public financial oversight and accountability mechanisms.
The 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.
Speaking at the signing ceremony, EU Ambassador to Liberia, H.E. Nona Deprez, said the EU’s decision to channel significant resources through direct budget support reflects its confidence in the Liberian government's commitment to ambitious reforms, fiscal transparency, and improved governance.
"The €7 million allocated for complementary measures will provide targeted technical assistance to improve budgeting, auditing, and domestic resource mobilization systems," Ambassador Deprez noted.
"It will also enhance the capacity of civil society organizations to hold both the government and the legislature accountable."
She emphasized that disbursements under the agreement will be performance-based, tied to demonstrated progress on reform implementation from 2025 to 2027.
Finance Minister Ngafuan commended the EU on behalf of President Joseph Boakai and the people of Liberia for its continued partnership and consistency.
“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.
He also reaffirmed Liberia’s ongoing efforts to boost domestic revenue generation to support key sectors of the economy.
The EU underscored that this financing agreement exemplifies the strong, strategic partnership between the European Union and Liberia, grounded in mutual commitment to good governance, accountability, and sustainable development.