By: Kabina S. Kabah
MONROVIA – Liberia’s Minister of Finance and Development Planning, Hon. Augustine Kpehe Ngafuan, and the European Union Ambassador to Liberia, H.E. Nona Deprez, have signed a €25 million financing grant agreement for the Private Sector Development in Liberia Project.
The initiative aims to strengthen value addition in Liberia’s cassava, fisheries, and wood processing sectors, with a strong emphasis on supporting micro, small, and medium-sized enterprises (MSMEs).
Designed to promote self-sufficiency, reduce import dependency, and stimulate net export growth, the project seeks to create sustainable and inclusive economic opportunities.
Speaking at the signing ceremony, Ambassador Deprez reaffirmed the EU’s commitment to Liberia’s inclusive development:
“We are very honored to be here again today to sign this financing agreement on private sector development.
This is a realistic package aligned with Liberia’s ARREST agenda, our Team Europe Initiative on food sustainability, and the broader Global Gateway Strategy. We aim to foster women’s empowerment, youth entrepreneurship, and decent working conditions—particularly in agriculture, fisheries, and forestry.”
Ambassador Deprez also emphasized the EU’s intention to work closely with Liberian institutions—including the Ministry of Commerce, the National Investment Commission, and the Central Bank of Liberia—to ensure effective implementation and long-term sustainability.
Representing the Government of Liberia, Minister Ngafuan praised the EU as a reliable partner and reiterated Liberia’s commitment to private sector-led growth:
“Each time we meet, good things happen for our country. Today, we are signing an agreement that will drive real change in our private sector.
It’s no longer enough to talk about private sector-led growth—we must act. This €25 million grant will help us walk that talk.”
Minister Ngafuan also highlighted the project’s role in enhancing public-private dialogue and policy reform, fostering a more enabling business environment. He noted ongoing government efforts to lower the cost of doing business through improvements in road infrastructure, port services, and electricity reliability—all critical to private sector success.
“This support is timely and on point,” he added. “Jobs won’t come from government alone. The private sector must lead the way, and this project will ensure the cassava, fisheries, and wood processing industries truly thrive and create jobs for our people.”
The Private Sector Development in Liberia Project will focus on increasing productivity, meeting export market standards, and advancing environmental sustainability. It will also support regulatory reform, expand access to finance for MSMEs, and strengthen coordination between public and private sector stakeholders.
This agreement builds on a series of ongoing collaborations between the EU and the Government of Liberia. Most recently, the EU committed approximately €62 million to support a range of development initiatives, including public financial management and regional energy projects.
