The chairperson of the Senate Committee on Rules, Order and Administration, Senator Nyonblee Karnga-Lawrence, is craving the indulgence of the Liberian Senate for the cancellation of the Liberian Government’s financing agreements between Eton Finance PTE Ltd, and the EBOMAF SA.
The Grand Bassa County ranking Senator noted in a communication to Senate plenary that such cancellation is for the safety and avoidance of embarrassment for the country and future governments.
“It is important to note that unless the two agreements are canceled, they stand to be legal and binding on Liberia,” she said.
On May 7, 2018, President George Manneh Weah submitted to the Legislature for ratification a loan financing agreement between Eton Finance PTE Ltd and the Government of Liberia in the amount of Five Hundred Thirty-Six Million, Four Hundred Thousand United States Dollars (536,400,000.00) for financing the coastal corridor connections of county capitals.
Besides the construction of the corridor’s roads, the agreement also dictated that a vocational training center would be constructed in Greenville, Sinoe County, and mini soccer stadiums in other county capitals, with a construction period of 48 months from the day of commencement after the Agreement is ratified by the Legislature and approved by the President of Liberia.
Senator Lawrence also recalled that on May 31, 2018, President Weah again submitted to the Legislature a loan financing agreement between EBOMAF SA and the Government of Liberia in the amount of Four Hundred Twenty Million, Eight Hundred Ten Thousand United States Dollars (520,810,000.00).
According to the ratified Agreement, the loan was for the financing of the design, construction and supervision of road corridors in Monrovia (Somalia Drive-Kesselly Boulevard to Sinkor), and north-eastern Liberia (Tappita-Zwedru-Greenville), with a duration period of 36 months after the Agreement is ratified by the Legislature and approved by the President of Liberia.
However, Senator Lawrence lamented that since the ratification of the two loan agreements by the Legislature and approved by the President in June 2018, nearly 30 months ago, “Nothing has been heard of the commencement of any of the projects named supra, though Liberia has a commitment to repay loans in the periods specified in the two loan agreements.”
“In view of the above, Mr. President Pro-Tempore and colleagues, I wish to crave your indulgence in the cancellation of the loan Financing Agreement between Eton Finance PTE Ltd and the Government of Liberia on the one hand, and the loan Financing Agreement between EBOMAF SA and the Republic of Liberia on the other hand for the safety and avoidance of future embarrassment for our country and future governments. It is important to note that unless the two agreements are cancelled, they stand to be legal and binding on Liberia,” the Grand Bassa County lawmaker’s communication concluded.
In their votes following a brief debate, the Senators during their 6th day of sitting yesterday agreed that the letter be sent to the Committees on Judiciary, Public Works, and Ways, Means and Finance to report back to plenary in two weeks.