Liberia’s George Weah Orders Review Of Concession Agreements

Liberia’s George Weah Orders Review Of Concession Agreements

Liberia’s new President George Weah has directed a review of concessions entered into by previous administrations, the presidency said on Thursday.

Concessions generally cover government grants of rights, land or property.

The statement said a committee would “review and ensure that all contracts entered into by the government of Liberia and concessionaires were executed according to agreed-principles via Liberia-laws.”

The nine-member panel will also determine if the government’s partners in those agreements had been fully implemented and met their performance requirements.

During the 12-year rule of Weah’s predecessor, Ellen Johnson Sirleaf, the government attracted around 15 billion dollars in foreign investment, according to a finance ministry report.

However, the West African nation has been criticised by watchdog groups for signing away much of its public land to logging, palm oil and natural rubber companies.

Sirleaf’s government sought to develop iron ore deposits and the offshore oil sector.

SOURCE

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