The Government of Liberia has unveiled two major reform initiatives aimed at strengthening domestic revenue mobilization, accelerating economic growth, and improving public service delivery.
The projects were officially launched on February 4, 2025, at a ceremony in Monrovia led by Finance Minister Augustine Kpehe Ngafuan, who underscored the urgent need for sustainable revenue streams to support national development.
Backed by the African Development Bank (AfDB), the initiatives include an $18.3 million Institutional Support Project and a $1.3 million Debt and Beneficial Ownership Technical Assistance Project. Together, they are expected to significantly strengthen Liberia’s financial governance framework.
The Institutional Support Project focuses on reforming tax policy and administration, improving budgeting systems, and reinforcing anti-corruption measures. It also seeks to enhance transparency in the extractive sector and support judicial reforms, key steps toward building a more accountable and efficient government.
Complementing this effort, the Debt and Beneficial Ownership Technical Assistance Project aims to improve debt reporting systems and strengthen beneficial ownership disclosure. These reforms are designed to promote transparency, curb illicit financial practices, and make corruption more difficult to conceal.
Minister Ngafuan emphasized that good governance and strong anti-corruption frameworks are essential to Liberia’s long-term progress, calling on all stakeholders to work collectively to ensure the successful implementation of the projects.
AfDB Country Manager John Bosco Bukenya urged swift execution, cautioning that delays in disbursement could undermine the projects’ impact. He stressed the importance of collaboration and timely action to fully realize the expected benefits.
According to AfDB, the funding supports the Institutional Support for Enhanced Domestic Revenue Mobilization and Reform Implementation Project (ISEDRMP), which is designed to boost domestic revenue generation, strengthen public financial management systems, and promote transparency, particularly within the extractive sector.
The Liberia Anti-Corruption Commission, through its Executive Chairperson Cllr. Alexandra Zoe, welcomed the initiatives and reaffirmed the Commission’s commitment to transparency and accountability, describing the projects as a significant step forward in Liberia’s anti-corruption fight.
The reforms will also support the rollout of the Value Added Tax (VAT) and further strengthen public finance management, with anticipated spillover effects on service delivery and infrastructure development nationwide.
In total, 14 institutions, including the Liberia Revenue Authority and the Judiciary of Liberia, are expected to benefit, enhancing the government’s overall capacity to deliver on its mandate.
Implementation will be overseen by the Project Management Unit within the Ministry of Finance and Development Planning, working closely with AfDB to ensure the projects achieve their intended outcomes.
Development partners have rallied behind the initiatives, signaling confidence in the government’s reform agenda and commitment to progress. By strengthening revenue systems and deepening transparency, the projects are expected to have a lasting impact on Liberia’s economic trajectory.
The launch marks a new chapter in Liberia’s development journey, one defined by reform, accountability, and shared responsibility. As implementation moves forward, the government remains optimistic that these initiatives will unlock opportunities, drive sustainable growth, and help secure a more prosperous future for all Liberians.
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