12 June 2014

Liberia: Ellen Seeks Ratification On U.S.$19 Million Loan Deal

President Ellen Johnson-Sirleaf Tuesday submitted a bill to the Liberian Senate requesting that body to ratify a loan agreement on behalf of the Government and the International Development Association (IDA) for infrastructure development purposes.

The communication from the Liberian leader which was read in plenary, pointed out that agreement in the amount of US$19 million seeks to support government efforts through the pavement of streets in Monrovia, the reconstruction of a new bridge linking Caldwell to Bushord Island, among others.

However, the duration for the payment of the loan coupled with the financial impact assessment was not made known in the president's communication.

Following the reading of the communication, the senators argued as regard the nature of the bill with reference to Article 34 of the Liberian Constitution which states "all revenue bills shall originate from the House of Representatives and the Senate shall propose to such bills."

The senators differed on the nature of the bill as to whether it was a revenue bill or treaty.

However, the senators later agreed that the letter be referred to the Joint Senate Committee on Ways, Means, Finance, Judiciary & Public Works for review.

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