Members of the House of Representatives have unanimously approved two significant loan agreements totaling US$24 million, marking a major step forward in Liberia’s development initiatives.
The agreements, secured from the African Development Fund, are set to bolster both infrastructure and youth empowerment within Liberia.
According to a statement from the House of Representatives on Tuesday, September 3, 2024, the first agreement, valued at US$12 million, is designated for Phase IV of the Mano River Union (MRU) roads project.
This initiative, known as the Mano River Road Development and Transport Facilitation Program – Phase IV, aims to enhance regional connectivity and promote economic integration among MRU member states.
The second agreement, also for US$12 million, targets Programs for Advancing Youth Entrepreneurship Investment (PAYEL).
This program is designed to foster youth entrepreneurship by providing crucial support for young Liberians seeking to start and grow their own businesses, thereby driving economic growth and job creation.
Both agreements have been forwarded to the Liberian Senate for concurrence.
The approval of these loans represents a significant commitment to Liberia’s infrastructure development and the empowerment of its youth, laying a strong foundation for future growth and prosperity.
