— As Senate concurs with House of Representatives to Ratify GoL, Foauni Brothers Investment Incentive Agreement
President George Manneh Weah has submitted to the National Legislature for ratification a financing agreement to include “services for health project in the amount of US$54 million between the Republic of Liberia and the International Development Association (IDA).” According to the President’s communication, under the agreement, “IDA extends to the Republic of Liberia credit in the amount of US$54 million to improve health service delivery to women, children and the adolescent in Liberia.
The communication said repayment of the total principal amount of credit shall be on each June 15th and December 15th, beginning June 15, 2025, through June 11, 2054, at the rate of 1.67% (percent). while the final payment on December 15, 2054, is at the rate of 1.47%.
“The project, among other things, is to assist to design and construct phase two of the Redemption Hospital, and acquire and install equipment for phases one and two of said hospital,” the President’s letter noted.
According to him, the project will also enhance the human resource skills of key health specialists, including nurses and midwives through provisions of training, undergraduate and postgraduate studies in selected areas, including internal medicines, surgery, aesthetic and gynecology, pediatrics and anesthesia.
Additionally, President Weah asserted that, when completed, the project will ensure enhanced availability of reliable data to promote evidence-based decision making within the health system.
The project, President Weah noted, shall be carried out through the Ministry of Health, by project Implementation Unit (PIU) which he noted, shall be responsible for the overall planning, oversight, coordination and management including development of work plans and budget, procurement planning, monitoring and evaluation of the project.
“I thought the Legislature will ratify this agreement which aims at improving the health services delivery of our country,” the President’s communication concluded.
Through a motion by Grand Cape Mount County ranking Senator H. Varney Sherman, a majority headcount agreed that the agreement is sent to the relevant committee of the Senate to report to plenary following the return of the Legislators from the July 26th Independence Day celebration.
In another development, the Senate Committee on Investment and Concessions yesterday recommended to plenary to ratify the Incentive Investment agreement between the Government of Liberia and the Foauni Brothers Corporation.
“The committee concluded that there are sufficient justifications for ratification of the Incentive Investment agreement, and the committee, therefore, recommends to the Liberian Senate to approve the investment incentive agreement, thereby concurring with the House of Representatives.”
The recommendation was signed by majority members of the committee, excluding Senator Sherman who, because of his reported interest in the Incentive Investment agreement, recused himself from participation in the deliberations of the committee.
Through a motion by Maryland County Senator H. Dan Morais, the Senate voted unanimously to concur with the House of Representatives.