-For Ratifying Financial, Other Instruments
By Mark N. Mengonfiafirstname.lastname@example.org
President George Weah has praised members of the 54th Legislature for the ratifications of financial instruments which were sent them during their sitting.
Addressing the regular Tuesday press briefing, Deputy Presidential Press Secretary, Smith Toby said the President was very happy over cooperation between the executive and the first branch of the Liberian government. “The President is not concerned with developing Montserrado, but he is also concern about other counties,” Smith said.
Toby added “The president feels very happy that the Legislature ratified those agreements; something he said is in the right direction when it comes to developing every part of Liberia.”
Some of the instruments the Deputy Presidential Press Secretary was referring to include: US$9m Loan agreement to empower smallholders cocoa producers and their households in Lofa and other counties, EUR 20m financing contract to improve transportation between Sanniquellie to Loguatuo border in Nimba, US$54m credit to design phase two of the Redemption Hospital, acquire and install equipment for both phase one and phase two of the hospital and US$25m to upgrade Konia-Voinjama road in Lofa county.
Additionally, Mr. Toby indicated that US$5.97m was as well ratified to develop a hydro power plant on the Gbedin waterfalls on the St. John River in Nimba County, US$8m to finance a hydro power project in River Gee County and US$15m credit to strengthen the statistical systems of Liberia and Regional bodies in Africa to harmonize, produce, disseminate, and enhance the core economic and social statistics.
Other financial agreements the Liberian legislature agreed upon before their break for which the president has rained praises on them are US$6m Kuwaiti Dinar for additional upgrading of the Konia-Voinjama road in Lofa, SDR 9, 200, 00 Grand plus 9, 200, 00 credit to increase regional electricity trade in West Africa to help increase energy security, reduce vulnerability to international oil price fluctuations and reduce the fiscal burden of the electricity sector.