By Precious D. Freeman
The House of Representatives is reviewing two financing agreements submitted to it by President George Weah for the construction of a poultry farm in Liberia.
The Export Credit Facility Agreement in the tune of EUR 21,558,226 and the Down Payment Facility Agreement valued at EUR 4,520,643 were both signed between the Republic of Liberia through the Ministry of Finance and Development Planning as borrower, and arranged by Bank Leumi Le-Isreal B.M with Bank Leumi Le-isreal B.M acting as an agent.
The total costs of the combined agreements are in the tune of ERU26, 078, 869.
In a communication to the House through Speaker Bhofal Chambers, President Weah said, if ratified, the agreement will improve the agriculture sector through the construction of an agro-industrial poultry complex that will cost of an integrated egg farm including a feed mill, egg packing station, workshop center, and other necessary units.
“I trust the Legislature will ratify this Agreement as it will have significant impact on our agriculture sector by providing food security and creating jobs for our people,” the President admonished.
Following the reading of the communication, Maryland County District 3, Representative Isaac B. Roland proffered a motion calling for the Export Credit Facility Agreement to be sent to the Committee on Ways Means and Finance, and Committee on Judiciary, while the Down Payment Facility Agreement be forward to the Committee on Agriculture and Judiciary and Ways, Means, and Finance to report within one week.
