The Government of Liberia, through the Ministry of Finance and Development Planning (MFDP) and the European Union (EU), has signed a US$20 million Financing Agreement under the NDICI-Global Europe Framework, titled Private Sector Development in Liberia, NDICI Africa Act-62431.
Speaking Monday, June 16, 2025, at MFDP in Monrovia, Minister Augustine Kpehe Ngafuan described the initiative as an important step in enhancing Liberia’s private sector, with a focus on strengthening the cassava, fisheries, and food processing value chains.
According to him, the four-year project (2025-2029) would increase the competitiveness and environmental sustainability of key sectors, thereby driving job creation, economic growth, and business competitiveness across the country.
Additionally, the Finance Minister stated that the project’s work is to develop the business environment and investment climate through public-private dialogue and regulatory reforms.
He said the project also seeks to promote inclusive and sustainable economic growth, especially in rural and underserved communities, which will be implemented by Expertise France and the International Labour Organization.
“The project is aligned with the EU’s Team Europe Initiatives on Safe and Sustainable Food Systems and Forestry and Biodiversity; this initiative also supports the EU Gender Action Plan III (2021-2025) in terms of fostering economic diversification and strengthening sustainable value chains with a strong gender-inclusive approach,” the Minister said.
Minister Ngafuan explained that the project will directly contribute to Liberia’s advancement toward several Sustainable Development Goals (SDGs), including SDG, Gender Equality, SDG, Decent Work and Economic Growth, SDG, Industry, Innovation, and Infrastructure, SDG, Reduced Inequalities, SDG, Responsible Consumption and Production, SDG, Climate Action.
Furthermore, he said, the initiative aligns with the ARREST Agenda for Inclusive Development (AAID) by prioritizing agriculture, fisheries, and sustainable forest management as core pillars for national development and employment generation.
Liberia’s Finance Minister added that the implementation of the agreement reflects the shared commitment of Liberia and the European Union to building a resilient, inclusive, and sustainable economic future.
For her part, EU Ambassador to Liberia, Madam Nona Deprez said that the US$25 million Private Sector Development in Liberia Project aims to enhance value chain addition in the cassava, fisheries and wood processing sectors with a focus on micro, small and medium-sized enterprises towards a path of self-sustainability, reduction of import dependency, and net exportation.
According to her, by fostering women’s empowerment, youth entrepreneurship, and the creation of decent working conditions in the agriculture, fisheries, and forestry sectors, the initiative seeks to improve livelihoods for all, including the most marginalized communities.
Madam Deprez stated that to achieve the objectives, the project will also facilitate access to finance and work closely with the Central Bank of Liberia and other key stakeholders.
“Additionally, it will support the public-private dialogue platform, which encourages discussions between government and the private sector to inform policy reforms and promote increased private sector investment in Liberia,” she added.
Madam Deprez narrated that it will also improve regulatory, public-private dialogue, and investment climate frameworks in line with shared green deal commitments, and increase productivity, quality, and inclusive decent job creation in the cassava, fisheries, and wood processing value chains in accordance with export market and environmental sustainability standards.
