See ks New Era Of Development Financing

The Minister of Finance and Development Planning, Augustine Kpehe Ngafuan, has called for a new era of scaled-up development financing, deeper economic reforms, and stronger public-private partnerships as Liberia seeks to sustain economic growth amid an increasingly challenging global environment.

During the launch of the African Development Bank’s 2026 Liberia Country Focus Report and the 2026–2031 Country Strategy Paper recently in Monrovia, Minister Ngafuan said Liberia’s development ambitions can only be realized through a balanced financing strategy that combines stronger domestic resource mobilization, concessional financing, private investment, climate financing, and strategic partnerships.

The event brought together senior government officials, representatives of the African Development Bank, members of the diplomatic corps, development partners, civil society organizations, and private sector leaders from across the Country.

He expressed appreciation to the African Development Bank for what he described as its steadfast partnership, policy leadership, and unwavering confidence in Liberia’s development journey.

Minister Ngafuan described the simultaneous launch of the two flagship publications as significant, noting that while the Country Focus Report provides an analytical assessment of Liberia’s macroeconomic outlook, financing needs, and reform priorities, the Country Strategy Paper translates those findings into a medium-term framework for the Bank’s financing, technical assistance, policy dialogue, and knowledge support.

According to him, the 2026 Country Focus Report’s theme, “Mobilizing Liberia’s Development Financing at Scale in a Fragmented World,” reflects the realities confronting developing countries while highlighting opportunities for countries willing to pursue sound economic reforms.

Ngafuan said Liberia remains part of Africa’s growth story despite mounting global uncertainties.

Referencing the African Development Bank’s continental economic assessment, he noted that 22 African countries, including Liberia, recorded economic growth above five percent last year.

He recounted Liberia’s ability to overcome successive economic and humanitarian shocks, describing the country’s experience as evidence of resilience built through reforms and international cooperation.

He also reflected on the country’s response to the Ebola epidemic, which claimed more than 5,000 lives but ultimately strengthened Liberia’s public health institutions and preparedness for future crises, including COVID-19.

Ngafuan further pointed to the government’s management of a major financing shock after Liberia lost more than US$300 million in external project financing following the withdrawal of one of its largest development partners, the United States Agency for International Development.

Despite the setback, he said the government maintained fiscal stability through stronger domestic revenue collection, improved tax administration, increased digitization, enhanced transparency, and measures to eliminate revenue leakages.

“The sky did not collapse on our heads,” the Minister remarked, underscoring the government’s determination to manage the situation without undermining macroeconomic stability.

He reaffirmed the government’s commitment to maintaining sound macroeconomic management while implementing reforms designed to support inclusive and resilient growth; Macpherson C. Marbiah writes