Liberia: Pres. Weah Submits US$25M Financing Agreement to Legislature for Ratification
Capitol Hill, Monrovia – President George Weah has submitted a US$25 million financing agreement between the Republic of Liberia and the International Development Association (IDA) before the Legislature for ratification.
Report by Gerald C. Koinyeneh, [email protected]
In a communication to the House of Representatives through Speaker Bhofal Chambers, President Weah said, under the agreement, IDA extends to Liberia US$15 million as credit and US$10,900,000 Special Drawing Rights as grant.
According to the President, the objective of the project is to strengthen the statistical systems of participating countries including Liberia and regional bodies in Africa to harmonize, produce, disseminate, and enhance the core economic and social statistics.
“I trust the Legislature will ratify this agreement to assist with enhancing economic and social statistics in our country,” the President implored the Legislature.
The Plenary, following the reading of the President’s communication, forwarded it to the Committees on Ways, Means and Finance and the Judiciary to review and report within a week.
Meanwhile, the agreements is part of the IDA’s new project, Harmonizing and Improving Statistics in West Africa (HISWA), which will help harmonize and strengthen statistical systems in seven West African countries, namely Burkina Faso, Cabo Verde, Cote d’Ivoire, Ghana, Liberia, Sierra Leone and Togo.
The project will support the African Union (AU) and the Economic Community of West African States (ECOWAS) in their efforts to deepen regional integration in Africa.
It is aimed at strengthening the statistical systems of participating countries and regional and sub-regional bodies, in order to help them harmonize, produce, disseminate and enhance the use of core economic and social statistics.