Liberia: Pres. Weah Submits US$26M Agro

May 19, 2023

CAPITOL HILL, Monrovia – President George M. Weah has submitted before the House of Representatives two financial agreements for the construction of a poultry farm in Liberia.

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The Export Credit Facility Agreement in the tune of EUR 21,558,226 and 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-Israel B.M. with Bank Leumi Le-Israel B. M. acting as agent.

In a communication to the House through Speaker Bhofal Chambers, President Weah said the total cost of the combined agreements, which is in the tune of EUR 26,078,869, if ratified, will improve the agriculture sector through the construction of an agro- industrial poultry complex that will consist of an integrated egg farm including 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 urged.

Following the reading of the communication, Rep. Isaac B. Roland (District #3, Maryland County) proffered a motion calling for the Export Credit Facility Agreement in the tune of EUR 21,558, to be sent to the Committee on Ways means and Finance, and Committee on Judiciary, while the Down Payment Facility Agreement valued at EUR 4,520,643, be forwarded to the Committee on Agriculture and Judiciary and Ways.