MONROVIA – The Government of Liberia and the European Union have formalized a €56 million (US$62 million) budget support agreement to advance the country’s development agenda, with an additional €7 million (US$7.7 million) earmarked for initiatives aimed at strengthening fiscal oversight and transparency.
The €63 million financing package was signed on Tuesday, May 13, 2025, in Monrovia by Liberia’s Minister of Finance and Development Planning, Augustine Kpehe Ngafuan, and Hans Stausboll, Acting Director for Africa at the European Commission’s Directorate-General for International Partnerships.
During the ceremony, EU Ambassador to Liberia Nona Deprez stated that the European Union’s decision to channel substantial funds through direct budget support is a clear vote of confidence in Liberia’s pursuit of governance reforms, fiscal discipline, and institutional strengthening.
“The €7 million in complementary measures will provide targeted technical assistance to enhance budgeting, auditing, and domestic revenue systems,” said Ambassador Deprez. “It will also support civil society in holding government and lawmakers accountable.”
She stressed that disbursements under the agreement will be contingent upon Liberia’s performance in implementing reforms over the 2025–2027 period.
Finance Minister Ngafuan, speaking on behalf of President Joseph Boakai and the Liberian people, praised the EU for its unwavering support, contrasting the European bloc’s commitment with what he described as retreat by some other development partners.
“While some partners are retreating from their commitments, the European Union is standing firm and delivering for the Liberian people. This is truly commendable,” Ngafuan remarked.
He reiterated Liberia’s pledge to strengthen domestic resource mobilization and enhance support for key economic sectors, as part of the broader national development strategy.
The EU highlighted that this agreement reinforces the longstanding partnership between Liberia and the European Union, rooted in shared goals of transparency, accountable governance, and sustainable national progress.
