EU Reaffirms Support for Liberia’s Development Agenda, Sign €25 Million Agreement to Boost Private Sector Development

Monrovia, Liberia: The Government of Liberia and the European Union on Monday, June 16, 2025, signed a €25 million financing agreement aimed at enhancing private sector development and strengthening key economic sectors, including Technical and Vocational Education and Training (TVET), agriculture, and fisheries.

The signing ceremony, held at the Ministry of Finance and Development Planning in Monrovia, brought together officials from the EU Delegation, the Ministry of Finance, Ministry of Commerce, representatives of the business community, and members of civil society.

Speaking at the ceremony, the Head of the European Union Delegation to Liberia, Ambassador Leonard Depress, emphasized the EU’s continued commitment to supporting Liberia’s national development through strategic investments in human capital and economic infrastructure.

She said the initiative aligned with the EU’s Global Gateway strategy, which promotes a 360-degree approach to sustainable private sector development.

Ambassador Depress reaffirmed the EU’s support for the Government of Liberia’s ARREST agenda focused on Agriculture, Roads, Rule of Law, Education, Sanitation, and Tourism highlighting the EU’s role in advancing governance and economic reforms.

Also addressing the EU Delegatios, Liberia’s Minister of Finance and Development Planning, Hon. Augustin Kpaye Ngafuan, welcomed the agreement as a significant step forward in revitalizing the economy.

He described the private sector as the engine of growth while noting that liberia is lagging behind in several sectors, so every form of assistance is not only welcome but essential.

He expressed appreciation for the longstanding partnership with the EU, citing a previous €7 million agreement that delivered tangible benefits to Liberian citizens and the General Auditing Commission (GAC).

Accroding to Minister Ngafuan the new funding will help connect critical sectors such as health and education to broader national development efforts.

The financing agreement is part of the EU’s Global Gateway strategy, which seeks to boost global investment in infrastructure and development while reinforcing democratic values and sustainable growth in partner countries.

The initiative will strengthen Liberia’s investment climate by enhancing public private dialogue, improving technical training programs, and supporting entrepreneurship particularly in agriculture and fisheries.