Monrovia, Liberia – A US$20 million funding agreement, titled Private Sector Development in Liberia NDICI Africa Act-6243 1, has been signed by the European Union (EU) and the Liberian government through the Ministry of Finance and Development Planning (MFDP) within the NDICI-Global Europe framework.
Minister Augustine Kpehe Ngafuan, speaking Monday, June 16, 2025 at MFDP in Monrovia, characterized the project as a significant step in developing Liberia’s private sector, with an emphasis on bolstering the value chains for food processing, fisheries, and cassava.
In order to boost job creation, economic growth, and business competitiveness nationwide, he stateed that the four-year initiative (2025–2029) intends to improve the environmental sustainability and competitiveness of important industries. The initiative will improve the business and investment climate through regulatory changes and public-private collaboration, according to Liberia’s Finance Minister, in addition to creating value chains.
He explained that the four-year plan (2025-2029) aims to increase the environmental sustainability and competitiveness of key industries in order to increase job creation, economic growth, and business competitiveness countrywide. According to Liberia’s Finance Minister, the program will not only create value chains but also enhance the business and investment climate through regulatory improvements and public-private partnership.
SDG, Gender Equality, Decent Work and Economic Growth, Industry, Innovation, and Infrastructure, Reduced Inequalities, Responsible Consumption and Production, and Climate Action are just a few of the Sustainable Development Goals (SDGs) that Minister Ngafuan clarified the project will directly help Liberia achieve.
He declared that by highlighting agriculture, fisheries, and sustainable forest management as essential pillars for job creation and national growth, the program supports the ARREST Agenda for Inclusive growth (AAID).
The agreement’s execution, according to Liberia’s Finance Minister, demonstrates the EU’s and Liberia’s shared commitment to creating a resilient, inclusive, and sustainable economic future.
The US$25 million Private Sector Development in Liberia Project, according to EU Ambassador to Liberia Madam Nona Deprez, intends to improve value chain addition in the fisheries, wood processing, and cassava sectors with an emphasis on micro, small, and medium-sized businesses in order to move toward self-sustainability, less reliance on imports, and net exportation.
She maintained that the project aims to enhance lives for everyone, particularly the most marginalized groups, by supporting youth entrepreneurship, women’s empowerment, and the establishment of good working conditions in the forestry, fisheries, and agriculture sectors.
According to Madam Deprez, in order to accomplish the goals, the project will also make it easier to obtain financing and collaborate closely with the Central Bank of Liberia and other important parties.
The forum for public-private conversation will also be supported, she said, since it fosters dialogue between the private sector and the government to inform policy improvements and attract more private sector investment in Liberia.
In order to improve job creation, economic growth, and business competitiveness in Liberia, the EU Ambassador underlined the project’s main goal is to make the country’s value chains for cassava, fisheries, and wood processing more environmentally sustainable and competitive.
In keeping with the shared green deal commitments, Madam Deprez explained, it will also enhance regulatory, public-private dialogue, and investment climate frameworks. Additionally, it will raise productivity, quality, and inclusive decent job creation in the value chains of cassava, fisheries, and wood processing in compliance with export market and environmental sustainability standards.
