–New Three-Year Initiative Aims to Boost Revenue Mobilization, Strengthen Transparency, and Unlock Greater Benefits from Liberia’s Mining Sector
MONROVIA – The Government of Liberia and the African Development Bank (AfDB) have signed a US$16.7 million Fiscal Sustainability and Mining Governance Support Program aimed at strengthening public financial management, improving revenue generation, enhancing transparency, and ensuring that Liberia’s mineral wealth contributes more effectively to national development.
The agreement was signed Wednesday, June 17, in Monrovia by the Ministry of Finance and Development Planning (MFDP) and the African Development Bank during a ceremony attended by senior government officials and development partners.
The program forms part of a broader partnership between Liberia and the AfDB and represents the first phase of a three-year reform initiative designed to support the government’s efforts to improve fiscal governance and economic management.
Strengthening Liberia’s Economic Foundations
Speaking at the signing ceremony, Finance and Development Planning Minister Augustine Kpehe Ngafuan praised the African Development Bank for its longstanding support to Liberia, describing the institution as one of the country’s most reliable development partners.
Ngafuan highlighted the Bank’s role in Liberia’s post-war reconstruction efforts, debt relief initiatives, and major infrastructure projects, including support for sections of the country’s highway network and ongoing efforts to improve regional connectivity.
“The African Development Bank has a very strong relationship with the Government of Liberia. It was one of the first multilateral development institutions that supported Liberia during its post-war reconstruction and development efforts,” the Finance Minister said.
He pointed to the Bank’s extensive investments in road infrastructure, particularly in southeastern Liberia, and noted its continued engagement in strategic projects such as the Coastal Highway and the construction of the Cavalla River Bridge linking Liberia and Côte d’Ivoire.
Ngafuan also emphasized the importance of strengthening Liberia’s domestic resource mobilization efforts, especially within the mining sector, which remains one of the country’s most important economic pillars.
According to him, the new agreement complements the recently launched US$18 million Domestic Resource Mobilization Project, which seeks to improve government revenue collection and maximize benefits from Liberia’s natural resources.
AfDB: Reforms Key to Inclusive Growth
For his part, Rees Mwasambili, Country Manager of the African Development Bank in Liberia, described the agreement as another important milestone in the Bank’s partnership with Liberia.
He said the program is intended to support the government’s reform agenda by strengthening fiscal management systems, improving governance, and creating conditions for more inclusive economic growth.
“This operation, with financing of approximately US$16.7 million, represents another important step in our partnership with Liberia and comes at a time when the reform agenda matters greatly for the country,” Mwasambili said.
According to the AfDB official, the initiative will focus on several key areas, including:
- Improving domestic revenue mobilization;
- Strengthening debt management systems;
- Enhancing public procurement processes;
- Reinforcing anti-corruption measures; and
- Improving governance and oversight within the mining sector.
Mwasambili noted that the reforms are designed to create greater fiscal space for government while ensuring transparency, accountability, and more efficient service delivery.
“In simple terms, this is about creating the fiscal space government needs to deliver services and doing so in a more transparent and accountable way,” he explained.
Mining Sector Governance in Focus
A significant component of the program targets Liberia’s mining sector, which remains one of the country’s largest sources of foreign investment and export earnings.
Government officials have increasingly emphasized the need for stronger oversight and governance mechanisms to ensure that mining revenues are effectively managed and contribute directly to national development.
The new initiative is expected to support reforms aimed at improving regulatory oversight, increasing transparency, and maximizing revenue generation from the extractive sector.
The program also aligns with President Joseph Nyuma Boakai’s ARREST Agenda for Inclusive Development (AAID), which prioritizes economic transformation, public sector accountability, and sustainable resource management.
Public Works Minister Applauds Partnership
Public Works Minister Roland Layfette Giddings also lauded the African Development Bank for its sustained support to Liberia’s infrastructure sector.
He noted that AfDB-financed road projects have played a critical role in improving connectivity, particularly in southeastern Liberia, and expressed confidence that the partnership would continue to expand.
“Thank you for the support to the Liberian Government, especially in the road sector, where the African Development Bank has consistently been one of our strongest partners,” Giddings said.
Looking Ahead
The signing comes as Liberia seeks to strengthen public finances, attract greater investment, and improve governance amid ongoing economic reforms.
Officials believe the Fiscal Sustainability and Mining Governance Support Program will help position Liberia to better manage its natural resources, improve public service delivery, and create conditions for long-term economic growth.
Ngafuan stressed that while significant progress has been made in securing development financing and launching reform programs, implementation will be key.
“We’ve talked the talk. We now need to move fast with our projects because the opportunities embedded in these initiatives are transformative, especially for the private sector and our young people,” he said.
The agreement adds to a growing portfolio of African Development Bank-supported initiatives in Liberia, including infrastructure development, agricultural transformation, debt management support, and private sector development programs.
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