Members of the Honorable House of Representatives have unanimously voted to approve two significant loan agreements totaling US$24 million, marking a major step forward in Liberia’s development initiatives.
The agreements, secured from the African Development Fund, are set to bolster both infrastructure and youth empowerment within Liberia.
The first agreement, valued at US$12 million, is designated for Phase IV of the Mano River Union (MRU) roads project. This initiative, known as the Mano River Road Development and Transport Facilitation Program – Phase IV, aims to enhance regional connectivity and promote economic integration among MRU member states.
The second agreement, also for US$12 million, is earmarked for the Program for Advancing Youth Entrepreneurship Investment (PAYEL). This program is designed to foster youth entrepreneurship, providing crucial support for young Liberians seeking to start and grow their own businesses, thereby driving economic growth and job creation.
Both agreements have been now be forwarded to the Liberian Senate for concurrence. The approval of these loans represents a significant commitment to Liberia’s infrastructure development and the empowerment of its youth, laying a strong foundation for future growth and prosperity.
Meanwhile, the Plenary of the Honorable House of Representatives- HOR, has unanimously voted to amend title 12, chapter 1, part 1, executive law, Liberian codes of law revised by creating a new sub-chapter “e” to be known as the Presidential Transition bill.
The body took the decision on Tuesday, September 3, 2024, the 2nd day sitting of the second extraordinary session of the first session, following a report from its joint committee on Elections, Judiciary, Good governance and Executive respectively.
Plenary recently tasked the joint committee with the responsibility to review the bill crafted by the Law Reform Commission of Liberia and submitted by President Joseph Boakia.
The bill seeks to give a structural legal framework that facilitates the smooth transfer of power from one democratically elected government to another, to eradicate the ascribed disposition of discontinuity, and protect democratic principles and values during presidential transition, coupled with adequate best international practices. Meanwhile, the instrument, is expected to be forwarded to the Liberian Senate for concurrence.
