The Ministry of Finance and Development Planning (MFDP) and the European Union (EU) on Monday, June 16, officially signed a €25 million (Euro) financing agreement.
The agreement, according to a released, was signed under the NDICI–Global Europe framework, titled: Private Sector Development in Liberia NDICI Africa Act-62431.
It marks an important step in enhancing the country’s private sector with focus on strengthening the cassava, fisheries and food processing value chains.
The four-year project (2025–2029), aims to increase the competitiveness and environmental sustainability of these sectors, thereby driving job creation, economic growth and business competitiveness across the country.
In addition to developing value chains, according to the release, 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.
Expertise France and International Labor organization will implement the project.
The project is aligned with 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 project will directly contribute to the country’s advancement toward several Sustainable Development Goals (SDGs), including SDG 5 on Gender Equality, SDG 8: Decent Work and Economic Growth, SDG 9: Industry, Innovation, and Infrastructure; SDG 10: Reduced Inequalities, SDG 12: Responsible Consumption and Production; SDG 13: Climate Action.
Furthermore, 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.
The implementation of this agreement reflects the shared commitment of the country and the EU to build a resilient, inclusive, and sustainable economic future.