The European Union and the Government of Liberia have signed a landmark €25 million financing agreement aimed at revitalizing Liberia’s private sector, with a strong focus on job creation, entrepreneurship, and value chain development in key economic sectors.
The signing ceremony, held at the Ministry of Finance and Development Planning (MFDP) in Monrovia, brought together senior Liberian officials and representatives of the European Union, marking another milestone in the EU’s ongoing support to Liberia’s economic recovery and inclusive growth agenda.
Finance and Development Planning Minister Augustine Kpehe Ngafuan, speaking on behalf of the government, hailed the agreement as a critical step toward enabling sustainable, private sector-led growth.
“We often say the private sector is the engine of growth, but we must go beyond saying it–we must walk the talk,” Ngafuan declared. “With this €25 million support, we are not only empowering micro and small businesses, but laying the foundation for Liberia’s future economic resilience.”
Ngafuan noted that the funding would directly support value chain development in cassava, fisheries, and wood processing, three sectors with immense potential to reduce import dependency and increase domestic production. He emphasized that the government is determined to ensure regional and sectoral inclusivity in development.
“We want to make sure no region is left behind–whether it’s Harper, Greenville, Buchanan, or Gbarnga. Roads, electricity, and infrastructure must benefit the private sector so Liberians can trade, grow, and thrive,” he added.
He also thanked the EU for stepping up at a time when Liberia faces financial pressures.
“When some partners stepped back, the EU stepped up. And for that, the Liberian people say thank you,” Minister Ngafuan said.
“The government cannot absorb everyone. Jobs will come through the private sector,” Minister Ngafuan stressed. “This program will help create those jobs–by improving electricity access, cutting business costs, and encouraging investment.”
In closing, the Minister reaffirmed Liberia’s commitment to transparency and accountability in implementing the project.
“This support is not just for the government–it’s for the people. And we intend to deliver results that justify your confidence in us.”
EU Ambassador to Liberia, Nona Deprez, explained that the agreement forms part of the EU’s broader commitment to inclusive and green economic growth in Liberia.
She said the new private sector program is designed to improve productivity, increase job opportunities, and strengthen resilience in Liberia’s rural and semi-urban communities.
“This is a holistic package that fits into ARREST or AAID development agenda, the Team Europe initiative on food sustainability, and our Global Gateway Strategy,” Ambassador Deprez said.
“It is about empowering small and medium enterprises, supporting women and youth entrepreneurs, and ensuring decent work conditions. These are the pillars for real, lasting growth.”
She noted that the EU would collaborate with key Liberian institutions, including the Ministry of Commerce, National Investment Commission, Ministry of Finance, and the Central Bank, to provide access to finance and improve the business climate.
The project will also strengthen public-private dialogue platforms to ensure government policies are responsive to the needs of businesses.
Earlier in the program, Deputy Minister for Economic Management, Dehpue Zuo, expressed optimism about the agreement’s alignment with ARREST Agenda for Inclusive Development (AAID).
“This is a real opportunity to show that the AAID implementation includes a strong private sector window. We are grateful to the EU for this support,” he said. “With this, we are not just supporting businesses–we are helping Liberians add value to their products and build long-term prosperity.”
Meanwhile, the €25 million agreement builds on previous EU support, including recent budgetary assistance and infrastructure investments in Southeastern Liberia under the Light Up the Southeast Project.
The initiative underscores the urgent need to create jobs outside of government, which currently employs only a fraction of Liberia’s growing population.
