𝐒𝐞𝐧𝐚𝐭𝐞 𝐑𝐞𝐜𝐞𝐢𝐯𝐞𝐬 𝐀𝐝𝐝𝐢𝐭𝐢𝐨𝐧𝐚𝐥 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐧𝐠 𝐀𝐠𝐫𝐞𝐞𝐦𝐞𝐧𝐭 𝐟𝐫𝐨𝐦 𝐏𝐫𝐞𝐬. 𝐁𝐨𝐚𝐤𝐚𝐢 𝐟𝐨𝐫 𝐍𝐚𝐭𝐢𝐨𝐧𝐚𝐥 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐦𝐞𝐧𝐭 𝐏𝐫𝐨𝐣𝐞𝐜𝐭𝐬

The Liberian Senate on Tuesday, October 14, 2025, received two Additional Financing Agreements from the President of Liberia, Joseph Nyuma Boakai, aimed at advancing national development in the areas of harmonization and Improving Statistics in West Africa project as well as financing for South-Eastern corridor Road Asset Management. The first Financing Agreement is in support of the Harmonizing and Improving Statistics in West Africa (HISWA) Project. According to the President’s communication dated September 4, 2025, the objective of this agreement is to strengthen the statistical systems of participating countries and regional institutions in Africa. 

It seeks to harmonize, produce, disseminate, and enhance the use of core economic and social statistics across the continent. The International Development Association (IDA) has agreed to extend to the Republic of Liberia a concessional credit facility amounting to Three Million Two Hundred Thousand United States Dollars (US$3,200,000) to support the implementation of the project. The financing carries a maximum commitment charge rate of one-half of one percent (½ of 1%) per annum on the unwithdrawn financing balance, with payment dates set for January 15 and July 15 of each year. At the same time, the second Financing Agreement concerns the South-Eastern Corridor Road Asset Management Project, also between the Republic of Liberia and the International Development Association, designed to enhance road connectivity along selected sections of the Ganta–Zwedru Road Corridor, thereby improving accessibility and fostering economic growth in the south-Eastern region of Liberia. 

Through this agreement, the IDA has committed a concessional credit in the amount of Twenty-Three Million United States Dollars (US$23,000,000) to assist in financing the project. The financing terms specify a maximum commitment charge rate of one-half of one percent (½ of 1%) per annum on the unwithdrawn balance, with payment dates set for February 15 and August 15 of each year. Following the reading of the communications, Senator Prince K. Moye of Bong County filed a motion for the two Financing Agreements to be received and forwarded to the Senate’s Committees on Ways, Means, Finance & Budget, Judiciary Human Rights Claims & Petitions, and Public Works for thorough review and report to Plenary in two weeks recommendations therefrom.