House to Ratify US$ 27m Loan Deal

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The House of Representatives has mandated three relevant Committees to review a US$27.3m finance contract between the Government of Liberia and European Investment Bank for the renovation of the Roberts International Airport’s (RIA) runway.

Members of the House reached the decision during the 11th day sitting of the 4th Session on Tuesday following the submission of the agreement for ratification by President Ellen Johnson Sirleaf.

In the President’s communication, she informed the Lawmakers that the ratification of the Loan Agreement will address the urgent need to recondition the runway, which is in a poor state.

President Sirleaf estimated the total cost for the modernization and rehabilitation project of the entire airport facility at US$ 60,300,000.00 (sixty million three hundred thousand US dollars).

She further informed Lawmakers that the government has concluded arrangements for the project to be financed with US$20 million from the Saudi Fund for Development; US$10 million from the Arab Bank for Economic Development in Africa; US$ 3million from the Government of Liberia; and US$ 27.3 million credit from the European Investment Bank.

Rehabilitation of the airport’s runway will include improvement to the pavement drainage system, construction of Runway End Safety Areas (REAS) and replacement of the runway lighting, President Sirleaf stated.

According to the Chief Executive, the project also includes the provision of assorted items of operational and safety-related airport equipment which include fire tenders, ambulances, firefighting equipment, forklifts, high loaders, conveyer belt loaders, passenger stairs and passenger buses.

Following the reading and debate, a motion from Hon. Alex Grant of Electoral District 3, Grand Gedeh County, to turn the instrument over to the Committees on Ways, Means and Finance; Judiciary and Contract and Monopoly to review and advise Plenary in two weeks, was unanimously agreed upon.

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