The House Committee on Ways, Means, Finance, Budget & Development Planning, chaired by Representative P. Mike Jury, on Friday led a public hearing on a proposed loan agreement between the Republic of Liberia, the African Development Bank (AfDB), and the African Development Fund.
The hearing, held as part of the FY 2025 first-quarter revenue and expenditure performance review, focused on the wide-reaching implications of the agreement, which is expected to fund critical development initiatives across the country.
“This loan affects every Liberian,” said Rep. Jury during the session. “Though the implementation will fall under specific ministries and agencies, the benefits ~ and the responsibilities ~ are nationwide. That is why we have invited the media and all key partners to ensure transparency and accountability.”
Present at the hearing were representatives from the Ministry of Finance and Development Planning, the Ministry of Mines and Energy, the Liberia Revenue Authority, and civil society organizations. Stakeholders had reviewed the agreement prior to the session and offered input during the proceedings.
Officials from the involved institutions expressed strong support for legislative ratification of the agreement, highlighting its importance in achieving Liberia’s development goals. Civil society representatives also welcomed the inclusive approach, describing the public hearing as a positive step toward greater transparency in government borrowing.
Chairman Jury reiterated the importance of civil society involvement, noting that public engagement enhances trust and helps ensure that the obligations tied to the loan are fully understood.
The loan agreement will now proceed to further legislative scrutiny before any ratification is finalized. If approved, the funds are expected to support major infrastructure and development projects throughout Liberia.
