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GeneralLiberia news

Pres. Weah submits two loan agreements for ratification

By Bridgett Milton

President George Manneh Weah has submitted to the Legislature two loan agreements, the African Development Bank and the African Development Fund.

According to a communication sent to the Plenary of House of Representatives, these agreements were signed among the parties on 14 April 2022.

It said the objective of the project is to strengthen the sub-regional integration and trade in Guinea, Liberia, and Sierra Leone. 

The four main components of the project are Upgrading Climate Resilience

Road and Bridge, New Road Studies and Integrated Support.

The other components are Transport and Trade Facilitation and Program Management. 

President Weah noted that specifically, this project will support the Government of Liberia by benefiting road users, transporters and farmers.

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He also said it will support the population of the project area, especially disadvantaged groups such as women and children, who constitute the majority.

He said the total amount of the two loan agreements is equivalent to US$ 43.7 million and this total comprises US$ 31.4 million for agreement one: and US$12.3 million for agreement two.

Meanwhile, the House of Representatives has forwarded the two loan agreements to the Committees on Ways, Means and Finance, Public works, Judiciary and Transport to report in one week. –Edited by Winston W. Parley

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