The House of Representatives has officially ratified a US$20 million loan agreement for regional connectivity to improve regional trade corridors. The Loan Deal was signed between the OPEC Fund for International Development and the Republic of Liberia.
The House ratification of the US$20 million loan deal followed a recommendation from the Joint Public Works & Rural Development and Judiciary Committee.
The ratification set in motion the initiative for a transformative regional infrastructure project under the Mano River Union framework.
The agreement, ratified during a special session of the House of Representatives, supports the Liberia section of the Mano River Union Road Development and Transport Facilitation Project, a vital initiative aimed at strengthening national connectivity and regional trade corridors.
The loan will finance the full upgrade of a 48.5-kilometer stretch of road along the Ivory Coast to Liberia border (from James Davies town to Zwedru), converting it into an all-weather route designed to improve transport efficiency, reduce travel time, and bolster access to rural communities.
Additionally, the project will also include the rehabilitation of the Liberia–Sierra Leone border control station, implementation of digital customs and trade systems, including SIGMAT (the regional customs transit system), capacity building for customs officials and inter-agency coordination, support for the MRU Secretariat to enhance regional oversight and training efforts, and bipartisan support for regional growth.
Meanwhile, the ratified loan agreement has been forwarded to the Liberian Senate for concurrence, marking the final legislative step before being sent to the President for signature and then implementation can begin.
