MONROVIA, Montserrado – The House of Representatives has cited three top government officials to update them on the status of the controversial Eton and EBOMAF loan agreements.
This comes after Rep. Samuel Kogar of Nimba’s fifth district has called for the loans to be canceled to avoid incurring costs to the country. Additionally, he asked for top officials to provide updates on the loans.
The ministers expected to appear before the House are Justice Minister Musah Dean, Public Works Minister Mobutu Nyenpan, and Finance Minister Samuel Tweah. They are expected to appear on Thursday, July 2 to explain the status of the two loan agreements passed by the legislature in 2018.
Lawmakers agreed to the two loans in 2018 in order to construct a coastal highway to the southeast. The Eton agreement was valued at US$536.4 million and the EBOMAF agreement was valued at US$420.8 million.
The agreements, however, received much blowback from the public and from international partners.
For one, there were concerns of impropriety, after it was revealed that EBOMAF’s president and CEO, Burkinabe Mahamadou Bonkoungou, had loaned a private jet to Pres. George Weah for his use in international travels. The Eton agreement came with a sovereign guarantee from the Central Bank and opposition politicians revealed the shady nature of the Singapore-based institution, Eton Private Finance. The agreements were passed at a time when the legislature approved much of the legislation submitted by the president with little scrutiny.
Featured photo by Zeze Ballah