By Laurina B Lormia
(Cub-Reporter)
The police has submitted a loan agreement to the Ministry of Finance valued at US$ 61.34 million aimed at providing, boosting and strengthening its transportation logistical capacity support.
Speaking on the Spoon TV night show, Police Inspector General, Gregory Coleman said what is needed to restore order in Liberia cannot be addressed from its current budget because the police presence needs to be felt all over, adding that therefore, it is not about the case valued attached to the loan but the greater good it will cause.
According to him, the loan agreement submitted to the Ministry of Finance by the police is currently being negotiated and reviewed by its Debt Committee adding, “When the interest rate and all of the other expenditures are deducted, the government will be paying the amount of US$ 18.7%.”
The government’s budget signed by President Joseph Boakai approved US$ 3 million for the LNP.
“Over US$2 million within the US$ 3 million allocated to the police will go towards salary and the rest will not even be able to address the logistical challenges they are facing to restore, law order and mitigate crime; something he said, prompted their action to request a loan,” he explained.
“I am not borrowing US$ 6.34. Rather, there is a deal ongoing with the Government of Liberia for the Liberian National Police to be a recipient of a transportation package that is valued around that amount
and when approved, the government will be paying 15% of the amount and the rest will be payable over five years,” he stated.
Justifying the loan agreement and why it was not included in the national budget, IGP Coleman added that they did a full risk analysis as to where Liberia is as a country and what Liberia needs at this point in time to address its challenges and restore law, order and safety.
Meanwhile, he reported that the amount of US$6.34 is inclusive of the loan and interest over the five year period and it will reduce the interest if they put two million in the budget.