Liberian Senate Wants ETON and EBOMAF Road Financing Loan Agreements Nullified

The Liberian Senate has passed a motion instructing the Ministries of Justice, Finance and Public Works to nullify the ETON and EBOMAF road financing loan agreements.

The two agreements were signed into law in June 2018 by President George Weah and ratified by the National Legislature for the construction and pavements of 830 kilometers of road network in Liberia.

However, since the two financing instruments were ratified, their objectives are yet to be achieved by the Liberian Government.

Against this backdrop, Montserrado County Senator Darius Dillon on Tuesday raised a motion calling on the appropriate government institutions to lead the way in nullifying the document.

Senator Dillon’s motion was endorsed by a majority of the Senate, thereby prompting Senate Pro Tempore, Albert Chie to instruct the relevant government institutions to lead the process of annulling the two agreements.

Meanwhile, the ETON Financing Loan Agreement signed between Liberia and Eton Financing, a merger of Asian investment companies covers the construction of 505.3 kilometers of roads including rest stops.

While the EBOMAF Loan covers the pavement of 323.7 kilometers of roads including the Somalia Drive via Kesselley Boulevard to Sinkor in Monrovia, Tappita to Zwedru in Nimba and Grand Gedeh Counties respectively, and from Toe Town in Grand Gedeh County to the Ivory Coast Border.

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