Capitol Hill, Monrovia – The House of Representatives has ratified two financing agreements in the tone of US$42.5 million between Liberia and the International Development Association (IDA). The House’s decision to pass this agreement was based on the recommendation of the Joint Committee on Ways, Means & Finance, Public Accounts and Judiciary. With that, the Joint Committee added that there will be 64 different payments, and each installment shall be 1.5625% of the principal amount of the credit payable. Of the total, US$14 million is in the form of grant, and the remaining US$20 million as credit. The main objectives of the agreement, the Committee outlined, are to remove distortions in selected sectors and strengthened public-sector transparency, as well as promoting economic and social inclusion.

Source: Front Page Africa June 28, 2021 00:11 UTC