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Pres. Sirleaf Wants US$78.11m Loan.....
Date Uploaded: Feb 24, 2015

President Ellen Johnson Sirleaf

 

 

Pres. Sirleaf Wants US$78.11m Loan Agreements Rectified

By Vasco Wiagbe & Winnie Dixon

MONROVIA, February 24 (LINA) - President Ellen Johnson Sirleaf has submitted for ratification to the National Legislature loan agreements totaling US$78.11 million between Liberia and the African Development Bank (AfDB) and African Development Fund (ADF).

The loans are intended to finance phase two of the Mano River Union Road Development and Transport Facilitation Program (MRU/RDTFP), the Liberia News Agency reports.

In separate communications to House Speaker J. Alex Tyler and President Pro-Tempore of the Senate Armah Jallah dated February 12, President Sirleaf indicated that the loan further aims to boost post-conflict economic recovery in the MRU basin.

According to the letter, US$39.67million of the amount is between Liberia and the ADF, while US$38.44million is between Liberia and AfDB, on behalf of the Transition Support Facility.

She emphasized that the loan is for the paving of 276.35km of road networks in parts of Eastern Forested Guinea-Danane, Blolequin, Toulepleu; the Tabou Districts in Ivory Coast and the Counties of Maryland and River Gee in Liberia.

The President explained that the project aims to facilitate free movement of persons and goods between MRU countries, while also bolstering government’s efforts towards infrastructural development.

Following the reading of the communication, the plenary of both houses separately mandated their committees on Foreign Affairs; Judiciary; Ways, Means, Finance and Banking to report in two to three weeks.

The AfDB and Guinea on February 13 in Abidjan signed a US$50 million loan agreement in support of the MRU/RDTFP.

LINA   

 

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