President Weah Signs US$40M Financing Agreement Into Law

Tuesday, 24th March 2020

Monrovia, Liberia:The President of the Republic, H.E. Dr. George Manneh Weah, Monday, March 23, 2020 signed into law the Financing Agreement entered into by the Government of Liberia and the International Development Association of the World Bank.

 

The US$40 Million Financing Agreement, which is a Budget Support, was sought by the Liberian Government to fill financing gaps in the 2019/2020 Fiscal Budget as to enable the government execute some of its operational programs.

 

Of the amount, US$20M is a concessional loan payable in the space of 38 years while the other US$20M is a grant.

 

President Weah signed the instrument following its ratification by the 54th National Legislature few days ago.

 

The Liberian leader expressed gratitude to the World Bank for its continuous support to the Government’s development agenda through different financial arrangements.