Pres. Weah Submits Financing Agreement On Women Empowerment
MONROVIA, Jan. 25 (LINA) – The Plenary of the House of Representatives has mandated its committees on Ways, Means and Finance, Gender and Judiciary to review a financing agreement between the Republic of Liberia and International Development Association and report to plenary in two weeks.
Plenary’s decision followed a communication from President George M. Weah in which he submitted for ratification the financing agreement for Liberia Women Empowerment Project.
In his communication to the House on Tuesday, the Liberian leader said the objectives of the project is to improve the social and livelihood services for women and girls in targeted communities, foster positive social norms as well as strengthen the Government’s capacity to advance women and girls’ empowerment.
The Agreement, according to the communication, was signed on July 4, 2022, between the International Development Association and the Republic of Liberia.
Under the Agreement, the Association agrees to extend to the Republic of Liberia a Grant and a Credit, which are deemed as Concessional Financing in the amounts of: (a) an amount equivalent to Thirteen Million Three Hundred Thousand Special Drawing Rights (SDR 13,300,000 as Grant); and (b) an amount equivalent to Twenty Million Special Drawing Rights (SDR 20,000,000 as Credit).