By: Trokon Wrepue – trokon1992seokin@gmail.com
Capitol Hill – The Plenary of the Liberian Senate has ratified an additional financing agreement of US$23 million between the Republic of Liberia and the International Development Association (IDA) for the South-Eastern Corridor Road Asset Management Project (SECRAMP).
The Senate’s decision followed the endorsement of a report from its Joint Committee on Ways, Means, Finance & Budget and Public Works & Rural Development, which recommended the ratification and subsequent submission of the agreement to the House of Representatives for concurrence.
According to the agreement, the Project Financial Management Unit (PFMU) will oversee the day-to-day financial management of the project.
This includes maintaining accounting records, preparing financial statements, and producing interim unaudited financial reports, among other key functions.
The agreement also stipulates that, by October 30 each year, the Government of Liberia must submit a draft annual work plan and budget to the association for review and approval.
The work plan should outline the scope and details of project implementation for the upcoming year.
Furthermore, the instrument emphasizes adherence to environmental and social safeguards, requiring the government to ensure that the project is implemented in accordance with proper health, safety, social, and environmental standards and practices.
The South-Eastern Corridor Road Asset Management Project is part of Liberia’s broader effort to enhance road connectivity, boost trade, and improve access to markets and social services in the southeastern region—one of the country’s most infrastructure-challenged areas.
