Liberia Under Assessment For New US Loan

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President Weah Signs loan Agreements

American foreign aid agency Millennium Challenge Corporation is assessing the performance of Liberia’s government across a spectrum of factors before granting a new loan to the West African nation, Front Page Africa online reported.

MCC forms partnerships with poor countries that show commitment to good governance, economic freedom, and investing in their citizens.

“Maintaining performance on the Millennium Challenge Compact scorecard and a good implementation performance will be critical for Liberia to be considered for another grant,” said MCC chief operating officer Jonathan Nash.

Nash, who is currently in the Liberian capital Monrovia engaging the government, said the country must pass several indicators to secure a new loan.

These included ruling justly, controlling corruption, rule of law, investing in people, increasing immunization rate, investing in health care and education, and promoting a business-friendly environment.

Countries that do relatively well compared to their peers are eligible for the grant.

In 2016, Liberian received US$257 million from the United States through the MCC towards its electricity and road projects.

These two sectors were earmarked as major factors hampering the growth of the country’s economy after a comprehensive survey.

Before the survey, Liberia had already achieved an acceptable scorecard after passing 10 out of the 20 indicators to qualify for the grant.