In a significant boost to Liberia’s economic development agenda, the European Union and the Government of Liberia have signed a €25 million financing agreement to accelerate private sector growth and productivity. The agreement, signed Monday at the Ministry of Finance in Monrovia, is part of the EU’s NDICI–Global Europe framework and will fund a four-year initiative aimed at transforming key productive sectors and strengthening micro, small, and medium-sized enterprises (MSMEs) across the country.
EU Ambassador to Liberia, H.E. Nona Deprez, and Liberia’s Minister of Finance and Development Planning, Hon. Augustine Ngafuan, presided over the signing ceremony. The project, formally titled Private Sector Development in Liberia NDICI Africa Act-62431, will run from 2025 to 2029. It will focus on enhancing value chains in cassava, fisheries, and food processing—sectors seen as vital to increasing domestic output, reducing import dependency, and creating employment opportunities.
Speaking at the ceremony, Minister Ngafuan described the program as a timely intervention that aligns with the government’s ARREST Agenda for Inclusive Development. He emphasized that the initiative is not merely a donor project, but a strategic investment in Liberia’s economic foundation. By targeting small and medium enterprises, the government hopes to build resilient local industries capable of absorbing labor, particularly among youth and women, and advancing rural economic development.
Ambassador Deprez underscored the EU’s commitment to supporting sustainable growth in Liberia. She noted that the initiative reflects Team Europe’s broader goals of promoting food security, gender equality, and green economic development. The program also includes a strong focus on climate-smart agriculture and environmentally sustainable practices, ensuring that growth is not only inclusive but also responsible.
The signing of this agreement comes at a time when Liberia is grappling with persistent trade imbalances and an overreliance on imported food commodities. Officials say the project is designed to address these structural weaknesses by investing in domestic production, strengthening agribusiness, and fostering innovation within local markets. The inclusion of fisheries and food processing in the program’s priorities is expected to generate added value along supply chains and promote rural industrialization.
Implementation will include business development services, technical assistance, and support for policy reforms to improve the ease of doing business in Liberia. The project also aims to enhance access to finance for MSMEs, helping them scale their operations and become more competitive in both domestic and regional markets.
Stakeholders view the EU–Liberia partnership as a model for development cooperation that is grounded in local realities and national priorities. Analysts believe the success of the initiative will depend heavily on coordination among public institutions, development partners, and the private sector itself.
As the program gets underway, many Liberian entrepreneurs and business leaders are optimistic that the EU’s support could serve as a turning point for inclusive economic growth. With the right execution, the €25 million investment could unlock new opportunities, create thousands of jobs, and put Liberia on a path toward greater self-sufficiency and long-term economic stability.
