shelving secunia: Liberia, France Sign Debt Relief, Development Agreement

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Written by Our Senior Staff ??

Friday, 17 August 2012 06:51

The Governments of Liberia and the Republic of France have signed a Debt Relief and Development Agreement in the amount of US$5.5m to support programs in the country?s health sector.

According to a Finance Ministry press release issued Thursday, August 16, 2012, the signing ceremony which to place at the Ministry of Health and Social Welfare will further strengthen bilateral cooperation between the two countries.

Signing on behalf of the Liberian Government was Finance Minister Amara Konneh who termed the signing of agreement as a milestone that will provide the fiscal space to improve Liberia?s health sector.

He thanked the French Government for their support to Liberia?s development program and paid special tribute to Foreign Minister Augustine Ngafuan for his extraordinary role in reaching the country to the HIPC completion point, which resulted to a remarkable debt relief for Liberia.

For his part, French Ambassador Gerard Lerome said, the implementation of this agreement will serve to promote a new spirit or partnership between France and Liberia.? He added, it will enable Liberia to step up its fight against poverty by allocating new resources to priority areas identified in its poverty reduction strategy.

For his part, Foreign Minister Augustine K. Ngafuan extolled the French Government and assured them that his ministry will make the machinery available for ministries, particularly the Ministry of Finance, in Liberia?s pursuit of relieving the citizens of poverty.

The release indicated that, the US$5.5m signed Thursday represents interest accrued on the waived US$200m debt which the French Government is now giving back to the Government and people of Liberia as a grant to improve programs in the health sector.

The Ministry of Health and Social Welfare will administer the funds through its project implementation unit as per this agreement.

There will be a Steering Committee set up for the program unit of which the Ministry of Finance will be a member, the release concluded.