Ministry of Finance and Development Planning

What Ministry of Finance and Development Planning does

The Ministry of Finance and Development Planning (MFDP) is the Government of Liberia's central authority for national fiscal policy, public financial management, and development planning, headquartered on Broad & Mechlin Street in Monrovia. It formulates and executes the national budget, manages public debt, coordinates macroeconomic policy with the Central Bank of Liberia, and oversees 108 ministries/agencies/commissions, 18 state-owned enterprises, and 15 county governments. The ministry's operational backbone is the Integrated Financial Management Information System (IFMIS), which automates budget execution and financial reporting across all spending entities; complementary digital platforms include a real-time Project Dashboard for public investment monitoring, a Beneficial Ownership Registry for anti-corruption enforcement, and a digital survey platform for Liberian diaspora engagement in the ARREST Agenda for Inclusive Development (AAID), Liberia's National Development Plan.

MFDP's core service lines are the National Budget Management System, the Public Financial Management framework, the AAID national development strategy, the Open Budget Initiative for citizen participation, the Fiscal Decentralization Program extending authority to all 15 counties via county treasuries, the Internal Audit Compliance System, and the coordination of international development partnerships. Recent product launches include the Youth Entrepreneurship Investment Bank (YEIB) with the AfDB, the EXCEL education reform program with the World Bank, the Payaza Liberia digital payments platform, and County Service Centers. As a government ministry, MFDP does not operate a commercial revenue model; it is funded through the annual National Budget enacted by the National Legislature, with resources sourced from domestic taxation (collected by the Liberia Revenue Authority), international grants, and concessional lending from multilateral and bilateral partners.

MFDP's revenue base reflects the scale of public resources it administers rather than its own income. The FY2026 National Budget stands at approximately US$1.294 billion, a 47% year-on-year increase from FY2025. In 2025-2026, MFDP secured major financing arrangements including a US$266 million IMF Resilience and Sustainability Facility, US$125 million in World Bank agreements, a US$30 million BADEA loan for the Salayea-Konia Road, €56 million in EU budget support, and reaffirmed eligibility for an MCC Second Compact. The ministry serves a hybrid customer set: the entire Government of Liberia as primary internal client, international development partners as financing counterparties, county governments as fiscal-decentralization beneficiaries, citizens through the Open Budget Initiative, and the private sector through reforms and programs like the EU-funded Private Sector Development Project.

Name

Ministry of Finance and Development Planning

Legal name

Ministry of Finance and Development Planning

Website

https://mfdp.gov.lr

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

101–250 employees

Short description

The Ministry of Finance and Development Planning is the Government of Liberia's central authority for national budgeting, fiscal policy, public financial management, and development planning, coordinating over US$1.29 billion in annual public resources and multilateral financing from the IMF, World Bank, AfDB, and other partners.

Ownership category

akta.pro rank

Product category

Government Financial Administration

NAICS

Public Finance Activities (921130), Executive, Legislative, and Other General Government Support (921)

SIC

Federal & Federally-Sponsored Credit Agencies (6111), Finance Services (6199)

akta.pro primary industry

Budgeting & Fiscal Planning (BPAIAEAA)

akta.pro secondary industries

Treasury & Cash Management (BPAIAEAB), Development Finance & Blended Finance Facilities (BPADAOAD), Emergency, Stabilization & Crisis Response Financing (BPADACAM), National/Regional Development Finance Institutions (DFIs) (FSABAKAB)

Keywords

• Public financial management
• Fiscal policy management
• National budget management
• Development planning
• Macroeconomic policy

Headquarters

HQ city

Monrovia

HQ country

Liberia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Others

Revenue model

1. Domestic Tax and Non-Tax Revenue: The Liberia Revenue Authority (LRA) collects domestic tax and non-tax revenue on behalf of the Government of Liberia. FY2025 domestic revenue overperformance, driven by robust tax policy measures and tax administration efficiency, enabled offsetting of delayed World Bank budget support. FY2026 revenue target is set as part of the US$1.2 billion national budget.
2. International Development Financing and Grants: MFDP coordinates and receives financing from multilateral development banks (World Bank, IMF, AfDB), bilateral donors (EU, BADEA, Kuwait Fund, OPEC Fund, KOICA, USAID), and UN agencies. This includes budget support, project financing, and emergency assistance.
3. IMF Extended Credit Facility (ECF) and Resilience and Sustainability Facility (RSF): Liberia has an Extended Credit Facility arrangement with the IMF, including a 21-month RSF financing arrangement of approximately US$266 million (SDR 193.8 million). IMF Board approvals and disbursements follow successful program reviews.
4. National Budget Allocation: The core operational and programmatic funding flows through the annual National Budget enacted by the National Legislature. The FY2026 budget stands at approximately US$1.294 billion, a 47% year-on-year growth from FY2025.

Go-to-market motion1 record

Distribution channels5 records

Marketing channels9 records

Core offering

The Ministry of Finance and Development Planning (MFDP) is the central government ministry of the Republic of Liberia that formulates and executes the national budget, sets fiscal policy, and coordinates national development planning. It manages a US$1.294 billion FY2026 national budget, deploys the Integrated Financial Management Information System (IFMIS) across government entities, and implements the ARREST Agenda for Inclusive Development (AAID) as Liberia's national development plan. The ministry also coordinates development financing with international financial institutions, oversees fiscal decentralization to all 15 counties, and runs transparency and accountability programs including the Open Budget Initiative and the Beneficial Ownership Registry.

Product overview

The Ministry of Finance and Development Planning (MFDP) is a government ministry offering public financial management services rather than commercial products. Its core offerings include the National Budget Management System for preparing and executing the national budget, Public Financial Management services for revenue and expenditure oversight, the ARREST Agenda for Inclusive Development (AAID) as the national development framework, the Open Budget Initiative for citizen participation, Fiscal Decentralization Program for county-level financial management, Internal Audit Compliance System for government accountability, and coordination of International Development Partnerships with multilateral and bilateral development institutions.

Differentiator

Problem solved

Functional benefit

Products and services

• National Budget Management System
• Public Financial Management (PFM)
• ARREST Agenda for Inclusive Development (AAID)
• Open Budget Initiative (OBI)
• Fiscal Decentralization Program
• Internal Audit Compliance System (IAA Regulations and Compliance Checklist)
• Payaza Liberia
• Youth Entrepreneurship Investment Bank (YEIB)
• Excellence in Learning in Liberia (EXCEL) Project
• International Development Partnerships Coordination

Quantifiable outcome

• 5.1% GDP growth in 2025, projected strong growth for 2026, as confirmed by IMF following third ECF review
• +4 more outcomes

Named customers9 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Seven partnerships are on record, tiered core and secondary.

• UN Resident Coordinator's OfficecoreStrategic or Co-development PartnerUN Resident Coordinator Christine N. Umutoni presided over a meeting of the Diplomatic Corps with Finance Minister Ngafuan on mitigating USAID aid freeze impacts. The UN system coordinates development partner responses to national crises and supports the ARREST Agenda.
• Internal Audit Agency (IAA)coreStrategic or Co-development PartnerIAA was established by an Act of the National Legislature in 2013 with a mandate to standardize internal audit functions across all government entities. IAA manages internal audit in 96 of 143 public entities. MFDP supported the launch of IAA Regulations and Public Sector Internal Audit Compliance Checklist in June 2026.
• African Development Bank Group (AfDB) / Youth Entrepreneurship Investment Bank (YEIB)coreStrategic or Co-development PartnerPresident Boakai officially launched the Youth Entrepreneurship Investment Bank (YEIB) of Liberia in partnership with the AfDB Group, a landmark initiative to catalyze economic opportunities and job creation for young Liberians.
• Liberian Revenue Authority (LRA)coreStrategic or Co-development PartnerLRA and MFDP hold joint revenue generation deep dives for the FY2026 national budget. LRA reported highest revenue intake in a decade for FY2025. Joint press conference held with MFDP, LRA, and CBL on the GAC Compliance Audit Report.
• Central Bank of Liberia (CBL)coreStrategic or Co-development PartnerCBL and MFDP coordinated on joint press conference regarding GAC audit report on revenue collection and reconciliation. Minister Ngafuan participated in CBL's Third Quarter Monetary Policy Briefing, emphasizing fiscal-monetary collaboration.
• Liberian Institute of Public Administration (LIPA)secondaryStrategic or Co-development PartnerMFDP and LIPA signed an MoU to enhance the skills of 221 employees of MFDP, supporting institutional capacity building and professional development.
• Academic Consortium of Liberian Universities and Chicago State UniversitysecondaryStrategic or Co-development PartnerGoL signed an MoU with the Academic Consortium of Liberian Universities and Chicago State University for a landmark education initiative, marking a milestone in the education sector under the Boakai administration.

Scale indicators14 records

Recent moves6 records

Expansion highlights6 records

Others

• World Bank: The World Bank is Liberia's largest multilateral partner and provides core budget support, sector financing, and the Country Portfolio Performance Review framework. Operates as the principal counterpart on development project financing and PFM technical assistance.
• International Budget Partnership (IBP): IBP is a global civil-society organization focused on fiscal transparency and open budgeting. Comparable in mission alignment with MFDP's Open Budget Initiative and citizen engagement work, though operating as an external evaluator and capacity-builder rather than a state actor.

Direct peers

• Ministry of Finance, Ghana: Ghana's Ministry of Finance performs the same statutory function as MFDP — national budgeting, fiscal policy, and donor coordination — within a comparable West African lower-middle-income economy. Directly comparable mandate, IMF program exposure, and development partner architecture.
• Ministry of Finance, The Gambia: The Gambia's Ministry of Finance and Economic Affairs is a Constituency 15 co-member with comparable budget scale, ECF arrangement with the IMF, and similar West African fiscal reform profile. Directly comparable mandate and donor ecosystem.
• Ministry of Finance, Sierra Leone: Sierra Leone's Ministry of Finance is a direct peer in scale and function, sharing AfDB Constituency 15 membership with Liberia. Operates an analogous national budget, IMF ECF arrangement, and donor coordination model in a comparable post-conflict West African context.

Broad incumbents

• African Development Bank (AfDB): AfDB is a core multilateral partner and co-architect of the YEIB. With Minister Ngafuan chairing Constituency 15, AfDB is one of the most operationally adjacent counterparts to MFDP, particularly on infrastructure, regional integration, and youth investment.
• Ministry of Finance, Nigeria: Nigeria's Federal Ministry of Finance performs the same functions at significantly larger scale, with broader fiscal policy levers and a more developed PFM infrastructure. Comparable mandate structure, though with materially greater resources and institutional depth.
• International Monetary Fund (IMF): IMF administers the ECF and RSF arrangements that anchor Liberia's macro framework. While not a direct counterparty in product terms, it is the most consequential institutional peer given its role in program reviews, disbursement approvals, and growth assessments.

Regional players

• Liberia Revenue Authority (LRA): LRA is Liberia's autonomous revenue collection agency operating under MFDP's fiscal policy oversight. Directly comparable in PFM workflow and revenue performance benchmarking, though narrower in scope (collection only vs. full budget execution).
• Central Bank of Liberia: CBL is the monetary authority counterpart to MFDP's fiscal authority within Liberia. Joint fiscal-monetary coordination on GAC audits, debt sustainability, and policy briefings makes it the most operationally adjacent peer for PFM and macro-stability analysis.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/mfdp_lib
• Facebookfacebook.com/MFDPLIB

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

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M&A

Investments

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Frequently asked questions about Ministry of Finance and Development Planning