President Sirleaf Seeks Legislature’s Ratification of Loan Agreement

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MONROVIA, March 2 (LINA) - President Ellen Johnson-Sirleaf has submitted a Loan Agreement between Liberia and the African Development Fund for the Electricity Network Inter-connection project to the National Legislature for ratification.

In a communication addressed to House Speaker, J. Alexander Tyler and read in Chambers, President Sirleaf informed the Lawmakers that the project is a multi-million dollar donor financing project intended to strengthen the social economic development of Cote d’ Ivoire, Sierra Leone, Guinea and Liberia by harmonizing regional energy cooperation.

 According to the Liberia News Agency (LINA), President Sirleaf put the cost of the project at US$38,514,164.

She said the project involves the construction of high voltage inter-connection networks linking the four regional countries, and will include the electrification of localities along the power line, capacity building for project executing agencies and study on the feasibility of hydro-electric stations.

The Liberian Chief Executive disclosed that an estimated 24 million people are already connected to the network, but have poor quality service and will ultimately lead to increase in power generation in the region, through hydro-power investment, which will eventually provide 40,000 households in Liberia with electricity.

Following the reading of the instrument, Plenary sent it to the House’s Committees on Judiciary, Ways, Means and Finance, Land, Mines and Energy as well as the Committee on Public Utility for review, with the mandate to report to Plenary in two weeks.