US$41 Million SECRAMP Financing Agreement Ratified Version Forwarded to Senate for Concurrence

MONROVIA, LIBERIA: The House of Representatives has ratified and forwarded to the Liberian Senate for concurrence a Financing Agreement seeking additional funding for the South-Eastern Corridor Road Asset Management Project (SECRAMP), Project ID P149279.

The decision was reached on Tuesday, November 4, 2025, during the 7th day sitting of the 3rd quarter of the 2nd session, following a formal communication from the Executive Branch requesting legislative approval to secure supplementary financing for the ongoing infrastructure initiative.

According to the Executive’s communication, President Joseph N. Boakai, Sr. sought legislative ratification of the agreement to enable the disbursement of an additional US$23 million, which will form part of the total US$41 million required to complete SECRAMP.

The project is a major component of the government’s ARREST Agenda for Inclusive Development, aimed at revitalizing infrastructure, creating jobs, and boosting regional development.

Committee Endorsement and Developmental Impact

In its report to plenary, the House Committee on Ways, Means, Finance, and Development Planning described the financing instrument as a crucial step toward improving road connectivity and stimulating sustainable growth in the southeastern region.

The Committee emphasized that SECRAMP has already begun generating significant employment for both expatriate and local workers during its construction phase. The project, they noted, is not only building physical infrastructure but also enhancing human capacity through on-site job training and technical skill development programs.

Post-construction, road maintenance activities are expected to provide sustained employment opportunities while ensuring the long-term functionality and durability of the infrastructure.

The Committee’s report further highlighted that the improved road network will facilitate market access for farmers, improve the transportation of goods and services, and stimulate commercial activities along the corridor.

Enhanced connectivity, the report continued, will help revitalize agriculture, retail, hospitality, and small-scale manufacturing, fostering inclusive growth and improving livelihoods in some of Liberia’s most isolated communities.

After thoroughly reviewing the Loan Agreement and its provisions under Articles I to VI, the Committee concluded that the financing arrangement is timely, appropriate, and aligned with Liberia’s national development priorities.

With the House’s ratification now complete, the Financing Agreement has been forwarded to the Liberian Senate for concurrence. Once approved by both chambers, the agreement will pave the way for the immediate disbursement of funds and accelerate the completion of the SECRAMP project.