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Prez Sirleaf submits US$60m agreement for Senates ratification

Joseph Sayon/Benjamin S. Taingay
President Ellen Johnson-Sirleaf
President Ellen Johnson-Sirleaf

( 8, 2015)-President Ellen Johnson-Sirleaf has submitted a US$60-million agreement to the Liberian Senate for ratification.

President Johnson-Sirleaf said, the financing agreement has already been signed between the Liberian Government and the International Development Association (IDA).

The Liberian Leader also said: “The loan is intended to generate additional funds for the implementation of the Country’s accelerated electricity expansion project.”

She noted that the accelerated electricity expansion project will increase access to electricity and strengthen the institutional capacity in the sector.
The President also noted that the agreement will last for 30 years, with a six year grace period.

In a related development, President Johnson-Sirleaf has submitted a bill to establish the Millennium Challenged Account.
In her communication to the Senate, she said, the bill puts into placed the necessary legal framework for the Millennium Challenged Account for Liberia.

“The Millennium Challenged Account for Liberia seeks to implement and oversee projects funded by the Millennium Challenged Compact, an agreement entered into by the Liberian Governments and the United States,” the Liberian Chief Executive also said.

President Sirleaf said: “When pass into law, the bill will ensure that Liberia, through the Millennium Challenged Account, implements and effectively manage all projects under the agreement.”

Meanwhile, the two agreements have been sent to the relevant Senate committees to make their inputs.
Following their inputs, the relevant Senate committees are required to report their findings to the Plenary on Thursday, October 8, 2015.


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