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Lawmakers Stress Proper Management Of Loans

3 June 2015, 7:14 pm Written by  Hilary Vasco Wiagbe
Published in LINA Bulletin
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MONROVIA, June 3(LINA)-Members of the House of Representatives have underscored the need for necessary systems and controls to be put in place to ensure the transparent and proper utilization of the money from the three loan agreements totaling US$60, 300,000, ratified Tuesday by the House for the rehabilitation of the Roberts International Airport.

 
The Representatives said this was necessary because similar agreements were signed and passed into law in the past, but have made no impact on the lives of the Liberian people and the country as a whole.
 
The lawmakers  made the call during deliberations on the three loan agreements 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 for Economic Development in Africa (US$10, 000, 000) before their ratification Tuesday.
 
According to the lawmakers, people charged with the management of money for similar projects in the past did not prove credible, making specific reference to the US$ 10 million that was allotted in the 2013/2014 national budget for rehabilitation of the RIA.
 
Based on an audit report submitted to the Public Accounts Committee (PAC) of the National Legislature by the General Auditing Commission (GAC), the committee alleged that the money was mismanaged and as such recommended to President Ellen Johnson-Sirleaf to take action against the then management of RIA.
 
During the deliberations, most of the lawmakers opposed the ratification of the three loan agreements for fear that the money would be expended without achieving the intended objective.
 
The lawmakers however reconsidered their decision after taking into account the deplorable condition of the RIA and the importance of the airport to the economic recovery program of the country, and overwhelmingly voted for the ratification of the three loan agreements.

LINA/HVW/TSS

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