The Liberian Senate has mandated a Joint Statutory Committee on Ways, Means, Finance and Budget, Judiciary, Human Rights, Claim and Petition as well as Public Account and Audits to conduct an inquiry regarding the Status of various Financing Agreements passed by the 54th Legislature.
The Inquiry is to ascertain the impact on the development of the County.
The mandate of the Senate was triggered by a joint communication by Gbarpolu and Rivergee Counties Senators, Amara M. Konneh and Francis Dorpoh II, respectively.
The Senators believed that given the importance of transparency in the amendment and restatement of the Public Financial Management Act of 2009 and the effective utilization of financing instruments in fostering national development and progress, there was a need for the Liberian Senate to launch an inquiry into the status of the various financing agreements.
According to a release from the Press and Public Affairs Department of the Liberian Senate, the inquiry will take into account the extent to which the terms of the agreements have been adhered to by the parties, the effectiveness of the allocated funds in achieving what they call their intended developmental objectives, any potential irregularities or mismanagement in the execution of the agreements as well as recommendations for improving transparency, accountability and the overall management of future financing agreements.
The release further quotes the two Senators as saying that the inquiry is essential not only for ensuring accountability and safeguarding the interests of the Citizens but also for strengthening public trust in the financial management practice of the Government.
The Joint Committee is expected to report in two weeks.