By By: Alphanso G. Kalama;
Monrovia, Liberia – In a significant boost to Liberia’s development agenda, the Government of Liberia and the European Union (EU) have formalized a €56 million financing agreement to support the country’s budget.
Signed on Tuesday in Monrovia, the total package amounts to €63 million, including €56 million (US$62 million) designated for direct budget support and an additional €7 million (US$7.7 million) earmarked for enhancing public financial management and oversight.
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, officiated the agreement.
EU Ambassador to Liberia, H.E. Nona Deprez, highlighted that the substantial financial commitment demonstrates the EU’s trust in Liberia’s progress toward fiscal transparency and reform. She noted that the €7 million set aside for technical assistance will focus on advancing budgeting practices, auditing, and resource mobilization, while also empowering civil society to ensure governmental accountability.
Performance-based disbursements will be linked to measurable reform achievements from 2025 to 2027, reinforcing the EU’s focus on results-driven development.
Finance Minister Ngafuan expressed gratitude, emphasizing that while other partners are withdrawing, the EU continues to support Liberia’s aspirations, reflecting a steadfast partnership.
The EU reiterated that this financing agreement underscores a shared commitment to governance, accountability, and sustainable growth between Europe and Liberia.
