Liberian Government and African Development Bank Sign $40 Million Loan Agreement

Credits: African Development Bank

The Government of Liberia, in partnership with the African Development Bank, has signed a significant US$40 million loan agreement aimed at improving road infrastructure in the Mano River Union area.

The agreement, signed through the Ministry of Finance, Development Planning, and the African Development Bank, is part of the Mano River Road Development Transport Facilitation Phase 1 project.

The primary goal of the agreement is to enhance road infrastructure and promote intra-community trade within the Mano River Union area.

Support for Liberia (Credits: African Development Bank)

The loan will support the upgrading of 48.5 kilometers of roads in Liberia and 39 kilometers in Sierra Leone to bitumen standard. Additionally, feasibility studies will be conducted for an additional 97 kilometers of roads in Liberia.

Finance and Development Planning Minister Boima S. Kamara expressed gratitude to the African Development Bank for its support in road infrastructure development and other areas of development.

He highlighted the importance of the loan agreement in financing the fourth phase of the road development and transport facilitation program for Sierra Leone and Liberia.

The African Development Bank Country Manager to Liberia, Mr. Benedict Sorie Kanu, emphasized the timeliness and value-added nature of the program, noting its focus on boosting regional integration and trade in the Mano River Union.

The project will also include rehabilitating cross-border infrastructure, developing socio-economic facilities, and supporting women and youth associations to promote private enterprise.

Mr. Sorie Kanu highlighted that the program is expected to create over 2000 jobs during the construction phase, with a focus on empowering women.

The program aims to improve the standard of roads connecting Beudu to Koindu in Sierra Leone and John Davies Town to Zwedru section on the Fish Town-Zwedru axis in Liberia, ultimately enhancing regional trade and accessibility for local communities.

In addition to improving regional connectivity, the project is expected to generate urgently needed jobs for young men and women during the construction and maintenance phases, contributing to economic growth and development in the region.

The signing ceremony, which took place in Monrovia, signifies a significant step towards enhancing infrastructure and promoting trade and economic development in the Mano River Union area.

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