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House Ratifies Three Loan Agreements
Date Uploaded: Jun 02, 2015

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House Ratifies Three Loan Agreements

By Hilary Vasco Wiagbe

MONROVIA, June 2 (LINA)-The House of Representatives on Tuesday ratified three Loan Agreements totaling US$60, 300,000 aimed at improving the Roberts International Airport (RIA) in Margibi County.

The three loan agreements are between the Republic of Liberia and the Europe Investment Bank US$27, 300,000, Saudi Fund for Development US$ 20, 000, 000 and the Arab Bank or Economic Development in Africa US$ 10,000, 000.

The Members of the House voted 36 for, one against and three abstentions to ratify the agreements after the House’s Joint Committees on Ways, Means and Development Planning, Judiciary and Transport submitted their reports to Plenary.

Plenary turned the agreements over to the Joint Committee for scrutiny on February 17, 2015 after they were submitted by President Ellen Johnson-Sirleaf for ratification.

In the report, the Committee noted that when ratified, the loan agreements will improve the economic recovery process of the country, the infrastructure development of the RIA and create employment opportunities for Liberians.

Projects that will be undertaken under the agreements include the rehabilitation of the RIA  Runway , improvement of the drainage systems in the city, construction of Runway End Safety Areas, and replacement of the runway lights, among others.

LINA/HVW/TSS

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