House Ratifies Integrated Fisheries Sector Strengthening Project-Financing Agreement

The House of Representatives has ratified an Integrated Fisheries Sector Strengthening Project-Financing Agreement between OPEC Fund for International Development and the Liberian government, signed on October 26, 2023.

A release issued by the Press Bureau says, plenary took the decision Tuesday, December 5, 2023 during its 10th day sitting of the 3rd quarter of the 6th session following a report from its joint committee on Investment and Agriculture.

The Committee had several hearings and found out that this agreement is in the interest of the country as it intends to contribute to the country’s security and poverty alleviation by improving fisheries management and productivity and construct fisheries competent laboratory for post-harvest.

It added that under the project signed, the OPEC Fund has approved Twenty Million United States Dollars for (US$20,000,000) and Two Hundred Forty Thousand Dollars (US$240,000.00) in loan and grant respectively.

The joint committee report added that the agreement between the recipient and the OPEC Fund sets forth the components to be financed out of the proceeds of the Financing among others.

Meanwhile, the instrument is pending submission to the Liberian Senate for concurrence.

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