Monrovia, Liberia – In a renewed national push for fiscal sustainability, transparency, and accountable governance, the Liberian government, through the Ministry of Finance and Development Planning, formally launched two significant reform initiatives on Thursday, February 5, 2026: the Debt and Ownership Transparency Technical Assistance Project (DoT-TAP) and the Institutional Support for Enhanced Domestic Revenue Mobilization and Reform Implementation Project (ISEDRMP).
Senior government officials, African Development Bank (AfDB) representatives, heads of beneficiary institutions, development partners, and members of the diplomatic corps attended the event, which took place at the Corina Hotel in Monrovia. The African Development Bank, which has authorized more than US$13 million in loans and grants to improve Liberia’s domestic tax systems, debt transparency, and beneficial ownership frameworks, is funding the initiatives.
The projects are strategic interventions aimed at modernizing tax administration, strengthening public financial management, improving anti-corruption mechanisms, and improving debt management capacity, according to Yussuf Bob Foday, Officer-in-Charge, African Development Bank Country Office, who spoke at the ceremony.
In addition to strengthening the capacity of important supervision and enforcement organizations, he said the measures will assist improvements in tax collection systems, fiscal policies for the mining industry, digital financial systems, and beneficial ownership transparency.
Additionally, Foday stressed that prompt and methodical execution is essential to the projects’ success, calling on all parties involved to go beyond ceremonial launches to timely execution. “Delays, the Bank warned, come at a direct cost to citizens and government alike, particularly in a country with significant untapped revenue potential,” he said.
Government representatives spoke and reiterated their pledges to make sure the money is used effectively. In order to increase public services, create jobs, improve tax compliance, and rebuild public confidence in state institutions, the projects are in line with the government’s national development and reform plan, they said.
Heads of the Liberia Revenue Authority (LRA), Liberia Anti-Corruption Commission (LACC), Liberia Business Registry, Judiciary, and law enforcement agencies were among the beneficiary institutions that hailed the measures as revolutionary.
Improved VAT implementation, more robust anti-corruption investigations, improved inter-agency collaboration, digitalized judicial procedures, improved tracking of illegal financial flows, and increased transparency in revenue-generating industries like mining were among the anticipated results they noted.
Speaking as well, State Minister Mamaka Bility commended the African Development Bank for its ongoing collaboration and faith in Liberia’s reform agenda, pointing out that the projects are an investment in the nation’s long-term economic stability and democratic governance as well as in its institutions.
Stakeholders pledged to execute activities on schedule, manage resources wisely, and report openly when implementation started. The launch is the first stage in a crucial reform road that would enable Liberia better mobilize its own resources and eventually move toward economic self-reliance, according to officials.
