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.