The House of Representatives has mandated its Committees on Judiciary, Mines and Energy, Ways, Means, Finance and Development Planning and Foreign Affairs to review a 29,384,000 Emirates Dirhams (equivalent to US$8 million) Loan Agreement between the Government of Liberia and Abu Dhabi Fund for Development to finance the River Gee Hydropower Project.
The Joint Committee is expected to report on Thursday, March 19, 2020.
The House’s Plenary took the decision on March 12, 2020, during the 18th Day Sitting of the 3rd Session of the 54th Legislature following communication from President George M. Weah seeking ratification of that loan agreement by the august body.
In his communication, President Weah said: “The Project, when completed, will provide renewable electricity to rural communities, impacting the livelihoods of citizens and economic productivity in the region, thereby helping to reduce poverty and Green House Gas emissions.”
He added: “I trust the Legislature will ratify this Agreement to promote growth and achieve sustainable poverty reduction in our country.”
Meanwhile, President George Weah has also submitted for ratification the “Implementation Agreement between the Republic of Guinea and Liberia”.
President Weah said the agreement will provide a solution to the issue or difficulty of evacuating mining products before or after processing from Guinea through Liberia.
He noted that the agreement also provides for the operational modalities for the export of mining products from Guinea through the Liberian territory via existing rail and port infrastructures in Liberia, and more particularly the infrastructure on the Yekepa-Buchanan corridor currently under concession.
President Weah informed the body that under the Agreement, the Parties have endeavored to strengthen their cooperation in the transport sector and to harmonize and coordinate the conditions for sharing rail and port infrastructure.
“Hon. Speaker, as Liberia endeavors to strengthen bilateral ties with our neighbors, we are glad that this Agreement is in line with the African Mining Vision and the principle of economic integration adopted at the Economic Community of West African States (ECOWAS) and the Mano River Union (MRU) levels to promote shared use of transport infrastructure at national sub-regional and regional levels in order to bolster mining development, contribute to sub-regional integration of the economies of Guinea and Liberia.”
The Joint Committee will report to Plenary in one week.