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Senate Sends Financing Agreement Act.........
Date Uploaded: Mar 23, 2014

Senate Pro-temp Gbehzongar Findley

 

 

Senate Sends Financing Agreement Act To Lower House

By Hilary Vasco Wiagbe

MONROVIA, March 22 (LINA) -The Liberian Senate has forwarded an Act to establish the Rural and Renewable Energy Agency to the House of Representatives for concurrence.

The Senate, in a communication to the House of Representatives, indicated that it passed the act on Tuesday, March 18, predicated upon the fact that allotments were made in the National Budget for the agency over the past three consecutive years.

The Liberia News Agency quotes the Senate as saying that it believes the establishment of the agency will enhance power production and supply at affordable rate in rural Liberia, thus improving the living condition of the people and boost the economy of the country.

According to the Liberian Senate, US$50 million has already been set aside to commence the construction of the power plant, noting that the initiative will create employment opportunities for Liberians.

After Legislative arguments on the communication, the lawmakers turned the document over to the Committees on Lands, Mines and Energy and Judiciary for review, with the mandate to report to Plenary in two weeks.

At the same time, the Upper House has submitted an act to ratify the Financing Agreement, the First Poverty Reduction Support Development Policy Financing between Liberia and the International Development Association.

A communication addressed to Speaker J. Alexander Tyler and signed by the Secretary of the Senate, stated that the Plenary of the Liberian Senate ratified the act on Tuesday, March 11, 2014.

Following the reading of the act by the Deputy Chief of the House of Representatives, Plenary sent it to the committees on Ways, Means and Finance and Judiciary, as well as Planning and Economic Affairs for review and report to the body in one week.   

LINA HVW/TSS/PTK

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