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Lower House ratifies loan agreement

Varflay Kamara/Maximilian K.Kasseh, Jr.
The Capitol ,Monrovia,Liberia
The Capitol ,Monrovia,Liberia

MONROVIA, LIBERIA-The House of Representatives has unanimously ratified a 40(M) Million United States dollars loan agreement to upgrade and rehabilitate 4.5 Kilometer road from ELWA to Red Light.

The financing agreement between the Liberian Government and the International Development Association (IDA) was ratified Thursday.

The House’s decision was based on recommendations by the Joint Committee on Ways, Means, Finance and Judiciary following a careful reviewed of the document.

In its communication, the Joint Committee said the agreement includes the construction of an intersection at ELWA and completing the Gbarnga-Ganta Highway.

The Chairman of the Ways, Means and Finance Committee, Prince Moye, said Liberia is expected to begin paying back the loan from June 2023 to December 2054.

Chairman Moye said:” The passage of the document will further buttress government’s efforts in reducing the transportation constraints.”
Meanwhile, the document has been forwarded to the Senate for concurrence.

 


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