LNP Submits US$61.34M Loan Agreement By: Yassah J. Wright

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The Liberia National Police has submitted a loan agreement to the Ministry of Finance Valued at US$ 61.34 million aimed at providing, boosting and strengthening the transportation logistical capacity support of the LNP. The loan agreement submitted to the Ministry of Finance by the Liberian National Police is currently being negotiated and review by the Debt Committee at the Ministry of Finance and Development Planning. However, when the interest rate and all of the other expenditure are deducted, the government will be paying the amount of US$ 18.7%. The loan is valued at US$ 61.34 million dollars with a dime payment of nine hundred and twenty thousand, while the facility amount is US$ 5.2 million. ECA Country primer is hundred and thirty-five thousand. The government in its signed budget by President Joseph Nyuma Boakai approved US$ 3 million for the LNP. Speaking on the Spoon Mid Night Conversation, Police Inspector General, Gregory O. W. Coleman, said that what is needed to restore order in Liberian, their budget cannot address it because the police presence needs to be felt all over, adding that therefore, it’s not about the case valued attached to the loan but the greater good it will cause. He said that over US$2 million plus within the three million allocated the LNP will go toward salary while the rest will not even be able to address the logistical challenge they are facing to restore, law order and mitigate crime, something he said prompted their action to request a loan. According to him, they have submitted the loan agreement to the Ministry of Finance Debt Committee who is currently reviewing the agreement following the completion of an assessment by the team or company regarding Liberia transport terrine and they are going to be making logistic that customized Liberia. ‘’ I am not borrowing US$ 6.34. Rather, there is a deal ongoing with the government of Liberia for the Liberian National Police to be a recipient of a transportation package that is valued around that amount. The package is around six point something million. The loan was presented to the government by the Liberian National Police and the debt Committee is reviewing it, when its approved, the government will be paying 15% of the amount and the rest will be payable over five years,’’ Mr. Coleman noted. He clarified that the LNP will not be receiving any money rather, the Ministry will go through all the requirement including the PPCC process and presents the package to the LNP. When questioned further with regards to the funds, he suggested that the technical information regarding the funds should be directed to the Debt Committee of the Ministry of Finance because the LNP is not receiving the fund rather they will take the package. Justifying the loan agreement and while they didn’t passed it in the National Budget, IGP Coleman added that they did a full risk analysis as to where Liberia is as a country and what Liberia needs at this point in time to address it challenges and restore law, order and safety.  He noted that if it is in the budget, the government will not afford it so they are into public private investment, adding that even if the government was to place the money in the budget it will be the same amount. ‘’ I can’t speak to the document further because the document is self-explanatory as it provides a details about the loan and provide a comprehensive payable of the loan within the space of five years. The amount US$6.34 is inclusive of the loan and interest over the five years period. It will reduce the interest if they put two million in the budget,’’ he said.

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