Big Boost For Liberia’s Infrastructure, As Finance Minister Signed Major Agreement

0
2569

The Government of Liberia Pro Poor Agenda for Prosperity and Development Policy mainly on infrastructure development has again received a major boost.

It followed the signing of a $US25 million concession loan between Liberia and the Overseas Fund for International Development (OFID) to construct the Cornea-Voinjama road project.

According to Finance and Development Planning Minister Samuel Tweah the move by the CDC led government headed by President George Weah is a testimony of its commitment to developing the Country through paved roads.

Additionally, he added that the effort is also part of President Weah’s government drive to generate about $USD100 million for strategic road projects across Liberia.

The agreement is also intended to ensure a private sector support in the Country especially by utilizing the private sector window of OFID.

OFID private sector and trade finance operations windows are a complementary means for it to fulfill its core mission of assisting partner Countries in their social economic developmental initiative.

The international body empowers partners and Countries to ensure lasting impact is felt thorough economic, infrastructure developments as well as improving industrial capacity and utilities including strengthening direct equity investments or investment in private equity fund among others.

Minister Tweah as part of Liberia’s participation at the annual IMF’s meeting in Washington also signed a $USD 20 million world bank grant for the construction of the Ganta to Tapita road project in Nimba County.

  • https://twitter.com/kmtv_lib
  • https://www.linkedin.com/company/kmtv-liberia
  • https://web.facebook.com/Kmtvlib/

The SECREMP is been funded by the World Bank and other development partners under the Liberia Reconstruction Trust Fund (LRTF) using the National Road Fund intended to bring in the private investment to the tone of $USD60 million.

In an effort to jump start the project Finance Minister Samuel Tweah said SECRAMP will also be supported by an international Development Association (IDA) credit of $USD 29 million which is being arranged in procuring yellow machines in the project area.

The Cornea-Voinjama and the Ganta-Tapita are significant roads in Liberia and if completed will bring a great relieve to Liberians and a major boost to the current administration.

According to reports finishing touches are now in the pipe line to ensure the execution of two projects by early 2020.

The CDC led Government since taken over helm of authority to steer the affairs of the State has made some strides with road infrastructures in some parts of the Country despite battling to address its struggling economy.

The construction of roads across Liberia has been one of the major huddles to development especially with the Agriculture sector in rural Liberia badly been affected something President Weah government is gradually trying to address mainly with the support of International partners including Liberians through the payment of their taxes.