The Liberian government has signed a new Economic Cooperation Agreement with the European Union for direct budgetary support of €27 million (US$31.8 million).
The signing of the agreement took place in Brussels while President George Weah was on an official visit to the European Union to participate in this year’s European Development Days summit. The amount is meant to form part of revenues to subsidize the budget for the 2018/2019 fiscal year.
An Executive Mansion release said the funds will be made available shortly following the signing of the agreement.
“It is the first of many contributions to be made to Liberia under the Moving Liberia Forward Europe-Liberia Partnership Agreement,” the release noted.