VP Taylor Signs Eton Finance, EBOMAF S.A. Contracts

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VP Jewel Howard Taylor signs the two loan agreements

Vice President Jewel Howard Taylor yesterday signed two loan agreements recently ratified by the Legislature; the US$536.4 million Eton PLT Finance, and the US$420.8 million EBOMAF S. A. loan Agreement. They are before President George Weah for his signature and for printing into handbill.

The signing ceremony performed in the offices of the Vice President in the Capitol Building was earlier signed by the secretary of the Senate, J. Nanborlor F. Singbeh in accordance with Article 51 of the Constitution.

In a brief statement to reporters, VP Taylor, praised the “farsightedness and patriotism of the lawmakers, who without any inducement decided to put the welfare of fellow Liberians first and foremost.”

“And based on that confidence reposed in the President, “I can assure you on behalf of President Weah that not a dime will be used outside the already earmarked areas for the projects expected to be completed over the next three years; leading by example, President Weah is emphatic in his commitment to deal drastically with the slightest sign of corruption, especially with regards to the two loan agreements.”

She said the country is on the verge of “great transformation and we as a people have long yearned for the advancement of our lives and the repositioning of our country to an enviable place in the comity of nations. We all agreed that the lack of basic infrastructure, particularly road networks, has inhibited our forward march in large measure for more than 170 plus years.”

Due to the seriousness she attached to the signing of the agreements, VP Taylor informed those present at the ceremony that she was going to turn the pen she used to sign her first two most important documents to the National Archives, “because it is my historic pen, and when I am no longer Vice President, it would signify the importance of the document.”

On Tuesday, June 5, the House of Representatives passed the Eton Financing PTE loan agreement with a vote of over 40 members, and it followed a day after the Lower House conducted a public hearing in the Joint Chambers of the Legislature, considered by political commentators as a mere formality.

On Friday, June 8, the Senate during a special session concurred with the House of Representatives, but during another special session on Monday, the Senate concurred with the Lower House to ratify the EBOMAF S.A. Contract agreement, and at same time ratified the Mining Development Agreement between Hummingbird Resources(Liberia) Inc., and the Government of Liberia.

5 COMMENTS

  1. Congratulations to you Madam Vice President and members of parliament for the bold step taken to pass this bill. Our prayers are with you and President Weah. We look forward to the designs and implementation schedules of the project to help us educate those of our sisters and brothers who may not understand what is beginning to unfold in this country. With God above our right to prove we will overall prevail.

  2. This is very interesting to hear, kudos goes to Liberia first female vice president, the 54th legislature for this historic decision. Indeed, Liberia have now control by those who love the state and seeking the interest in their leadership. History will remember our generation.

  3. History will indeed remember our generation Hassan and I hope those of us who view this loan from a very steep “inclined plane ” are proven wrong! Wish Liberia the best! Let me point out a few points of concern:
    1) It is never a good idea for a government (if at all they should resort to borrow) to borrow from a shady private institution —The companies in question are shady and their credibility has be a point of concern for many Liberian intellectuals and experts.

    2)Despite the “outcry” from experts and intellectuals as well as laymen (no insult intended) , the issues surrounding the source of the loan haven’t been adressed. The legislature hastily went on to pass the loan agreement(terms)without a thorough assessment of the loan conditions and effect this might have on the country in the immediate and distant future. It should be furthur noted that the collateral for the loan has not been revealed ( as far as my reading has taken me ).It sometimes makes me wonder weather the Legislature (a good propotion) in this country knows it job or just don’t care about the people and the country.

    3) Financing could have been obtained from other sources than shady ones! What’s in it for who ?

  4. GOOD TO HEAR ABOUT ALL ROADS CONECTIONS IN LIBERIA, CONGRATULATION TO OUR REPRESENTATIVES
    AND SENATORS .

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