House ratifies Mano River Union Development & Transport Loan Agreements
By Bridgett Milton
Members of the House of Representatives have voted to ratify the financing of two loan agreements between Liberia and the African Development Bank.
The agreement is intended for the implementation of the Mano River Union Road Facilitation Programme [phase-iii].
The House’s decision followed a joint committee on Ways, Means and Finance, Development Planning, Investment and Concessions report Tuesday, 8 November 2022 during its 5th Day sitting of the third quarter.
The joint committee told the plenary that following a review study of the two agreements of the Mano River Union Road Development and Transport Facilitation Programme [Phase-III], it is keen on the project’s objectives.
It added that it was keen on the project’s description which informed the committee of substantial prospects in the country’s infrastructure sector as enhancing the climate resilience of Liberia’s infrastructure.
The committee noted that this is key to making the roads here, bridges, and agriculture productivity active.
The joint committee stated in its report that the total cost of the project is valued at [Units Of Account] UA37.5 million, an equivalent of appropriately US$52.5 million.
This amount is under the financing agreements intended for the implementation of the Mano River Union Road Development and Transport Facilitation Program- [PHASE-III].
The report continued that the African Development Bank (AFDB) agreed to extend to the Republic of Liberia in financing the Project- [Phase-III] as scheduled.
The project, according to the Joint Committee report, will seek to address the existing stock of bridges and roads that are threatened as the result of extreme weather along roads in rural areas.
The report was endorsed by plenary and a motion was proffered by Nimba County District #6 Representative Dorwohn T. Gleekia.
The instrument was passed and forwarded to the Liberian Senate for concurrence.