LIBERIA: President Weah Signs US$40m IDA Financing Agreement Into Law

President George M. Weah

The President, Dr. George Manneh Weah, has signed into law the Financing Agreement entered into by the Government of Liberia and the International Development Association (IDA) of the World Bank.

The US$40 million Financing Agreement, which is a Budget Support, was sought by the Liberian Government to fill financing gaps in the 2019/2020 Fiscal Budget so as to enable the government execute some of its operational programs.

Of the amount, US$20 million is a concessional loan payable in the space of 38 years, while the other US$20 million is a grant.

President Weah signed the instrument on Monday, March 23, following its ratification by the 54th National Legislature a few days earlier.

The Liberian leader expressed gratitude to the World Bank for its continuous support to the Government’s development agenda through different financial arrangements.

LINA

(Visited 88 times, 1 visits today)

Comments

comments

About Cholo Brooks 12152 Articles
Joel Cholo Brooks is a Liberian journalist who previously worked for several international news outlets including the BBC African Service. He is the CEO of the Global News Network which publishes two local weeklies, The Star and The GNN-Liberia Newspapers. He is a member of the Press Union Of Liberia (PUL) since 1986, and several other international organizations of journalists, and is currently contributing to the South Africa Broadcasting Corporation as Liberia Correspondent.