Africa-Press – Liberia. The Government of Liberia and the European Union have signed a US$25 Million Financing Agreement that marks an important step in enhancing Liberia’s private sector, with a focus on strengthening cassava, fisheries, and food processing value chains.
The Government of Liberia and the European Union have signed additional US$25 Million Financing Agreement to boost private sector development in the country.
The initiative marks an important step in enhancing Liberia’s private sector, with a focus on strengthening cassava, fisheries, and food processing value chains.
Speaking at the official signing ceremony in Monday, June 16, 2025, at the Ministry of Finance in Monrovia, the EU Ambassador accredited to Liberia, Nona Deprez said she was very proud because the initiative will support the value chains of cassava, fish, and wood, saying “And what we bring is a real holistic package because it is also in line with the AMES Agenda for Industrial Development, but it also fits our program in Tibet, which is on wood processing.”
Ambassador Deprez says the endeavor also fits the Team Europe initiative on food sustainability and agriculture under the same value chains of cassava and fish, including upcoming programs to support EP1 and EP2 fisheries program.
She said the initiative is in line with the EU’s global gateway strategy, the 360 degrees approach that looks at decent work, decent work conditions that come with private sector development.
Accordingly, the EU envoy explains that they want to work with small and medium enterprises, with business associations, Ministry of Commerce, National Investment Formation, Ministry of Finance, Ministry of Foreign Affairs, and this will be good for the workers and for the people of Liberia.
“We also will hopefully facilitate a stronger public-private sector dialogue, and we’re looking forward to working with all of you on this. I think it’s really important and we hope that this can also create jobs, of course.”
For his part, Liberia’s Minister of Finance and Development Planning, Augustine K Ngafuan, thanked the EU on behalf of President Boakai and citizens of Liberia.
“If we should develop geographically, and that no sector, no region, will be left behind, we will make sure that whatever ambitions we have under the project are actualized, including ramping up government support, when there are gaps, because it’s important”, Minister Ngafuan says.
According to him, as President Boakai demands results from public officials, the government cannot just be saying private sector; the Indians or local operating resources, instead, they must attract government resources. We have to enable the private sector.
He discloses that when the government do roads, they are doing it to help the country generally, but also the private sector, saying if the people who we serve if they can move from here to Harper, Maryland, quickly, they can sell their goods and services quickly and make profit.
He noted that the four-year project (2025–2029) aims to increase competitiveness and environmental sustainability of these key sectors, thereby driving job creation, economic growth, and business competitiveness across the country.
In addition to developing value chains, the Minister says the project will work to improve the business environment and investment climate through public-private dialogue and regulatory reforms.
It seeks to also promote inclusive and sustainable economic growth, especially in rural and underserved communities, he continues, noting that the project will be implemented by Expertise France and International Labour Organization, Ngfuan adds.
He says 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 implementation of this agreement reflects the shared commitment of Liberia and the European Union to building a resilient, inclusive, and sustainable economic future”, Minister Ngafuan adds.
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