House To Ratify Financing Agreement Between Liberia And IDA on COVID-19 Emergency

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Afric Daily Newspaper- Capital Hill Monrovia: president George Weah has submitted for ratification by the Legislature, a “FINANCING AGREEMENT (LIBERIA COVID-19 EMERGENCY PREPAREDNESS AND RESPONSE PROJECT SECOND ADDITIONAL FINANCING) BETWEEN REPUBLIC OF LIBERIA AND INTERNATIONAL DEVELOPMENT ASSOCIATION.”

According to the President’s Communication, the Agreement which was signed on July 4, 2022, between the International Development Association and the Republic of Liberia seeks to prepare an International Development respond to the COVID-19 pandemic in Liberia.

The President’s Communication stated that under the Agreement, the Association agrees to extend to the Republic of Liberia a Grant and a Credit, which are deemed as Concessional Financing in the following amounts: (a) an amount equivalent to Four Million Six Hundred Thousand Special Drawing Rights (SDR 4,600,000 as Grant); and (b) an amount equivalent to Two Million One Hundred Thousand Special Drawing Rights (SDR 2,100,000 as Credit.

President George M. Weah called on the Legislature to ratify said Agreement to assist Liberia as a country, in preparing and responding to COVID-19 adequately.

Following the reading of the Liberian leader communication, a motion was proffered by Lofa County Electoral District#1 Representative Francis S. Nyumalin forwarding to the committees on ways, means and finance and Judiciary to report to plenary in two weeks.

The decision was made Tuesday, November 1, 2022 during the 4th Day sitting of the 3rd quarter of the 5th Session of the 54th Legislature of the Honorable House of Representatives during regular Session.

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