"Liberia: House Passes Own Version of Bao Chico Deal", 1 December 2021

The Plenary of the House of Representatives has ratified its own version of the BAO CHICO mineral development agreement, authorizing the Chinese company to engage in the extraction of iron ore in Gbarpolu County. [...]

Debating the House’s action last month, the Senate complained that the action was demeaning and bordered on their integrity,  and planned to seek the Supreme Court’s opinion to put this matter to rest. [...]

“Let me be very clear on it, this is not a loan. It is an investment facility; a framework entered into between the China Road and Bridge Corporation and the Government of Liberia under the FOCAC arrangement to unveil US$2.5 billion for financing the country’s development over the next five years,” Min. Tweah disclosed after he had returned from China along with President Weah and others attending the Forum on China Africa Cooperation (FOCAC) in 2018. [...]