The Plenary of the House of Representatives has mandated its committees on Ways and Means, Banking & Currency and the Judiciary to review in two weeks two loan agreements before it for ratification.
President Ellen Johnson Sirleaf communicated with the lower house, requesting for their ratification of two loan agreements, something she cited in this year’s State of the Nation Address.
The two loan agreements are to be signed between Liberia and the African Development Fund and the agreement between African Development Bank (AfDB).
According to the Liberian leader in her communication, the proposed legislations are intended to finance phase two of the Mano River Union Road Development and Transport Facilitation program.
The loan agreements, worth US$78.11 million, when ratified, would also afford the construct the Cavalla River Bridge which overlaps the Ivory Coast-Liberian border on the Tabou-Harper Highway.
The agreement between the Liberian government and the African Development Fund is US$39.67 million; the one involving the African Development Bank and the African Development Fund—on behalf of the Transition Support Facility—worth US$38.44 million.
The President ask lawmaker to grant a smooth passage of the bills, saying they would boost the post-conflict economic recovery of the Mano River basin by improving road infrastructure, promoting intra-community trade and improving transportation conditions along the affected areas.
The president in her justification to that body said also said the projects additionally intended to facility the free movement of people and goods between the MRU countries and involved the paving of 276.35 km of the road network within the area bounded and forested by Guinea, Danane Blolequin, Toulepleu and Tabou districts in Ivory Coast the counties of Maryland and River Gee in Liberia.
Members of the House of Representatives that body saw it prudent to direct the two agreements after it was read to relevant authorities committees.
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