By: Moses Gwee Jr.
The European Union has awarded Liberia a \$62 million grant to strengthen economic governance and advance critical reforms. The funding, provided as direct budget support, is aimed at bolstering Liberia’s financial stability and institutional development over the next three years.
The agreement was formally signed in Monrovia by Liberia’s Finance Minister Augustine Ngafuan and EU Ambassador Nona Deprez. The total support package amounts to $70 million, with the majority $62 million being channeled directly into Liberia’s national budget.
A portion of the funding, approximately $7.7 million, will be allocated toward improving public financial management and enabling civil society organizations to better track government spending. The initiative is designed to increase transparency and accountability in the use of public funds.
The EU has attached specific conditions to the grant, including maintaining macroeconomic stability, strengthening oversight of public funds, and implementing a well-defined national development plan. These benchmarks will determine the disbursement and continuation of the support.
According to the EU, the assistance will be distributed from 2025 to 2027 and will focus on increasing domestic revenue, promoting local rice production, and enhancing financial audits. The support is performance-based, with future installments contingent on demonstrated progress.
EU Ambassador Nona Deprez described Liberia as a committed partner in reform efforts. She emphasized the EU’s confidence in Liberia’s potential to deliver meaningful economic change through targeted governance and fiscal improvements.
