Rédaction Africa Links 24 with New Dawn
Published on 2024-03-04 22:24:23
The Government of Liberia and the African Development Bank have signed two loan agreements totaling US$40 million for road construction projects in Liberia and Sierra Leone. The aim of these agreements is to enhance road infrastructure and promote inter-community trading within the Mano River Union Basing.
The signing ceremony took place in Monrovia, Liberia, on March 5, 2024. The loans will support the upgrading of 48.5 kilometers of roads in Liberia and 39 kilometers in Sierra Leone, as well as feasibility studies for an additional 97 kilometers of roads in Liberia. Other project components include developing cross-border infrastructures between Liberia and Sierra Leone, improving socio-economic infrastructure, and providing support to women and youth associations to promote private enterprise.
The Minister of Finance and Development Planning for Liberia, Boimah Kamara, signed the agreements on behalf of the government. He emphasized the importance of this project in providing the necessary infrastructure for growth and improving the lives of Liberians. Phase Four of the project aims to upgrade standard roads in both Liberia and Sierra Leone.
The Country Manager of the African Development Bank, Benedict Kanu, highlighted the timeliness and relevance of the agreements. He stated that the program will boost regional integration and trade within the Mano River Union Basing. Phase Four of the program is estimated to cost US$60 million and will be implemented from 2024 to 2027. The project aims to improve roads connecting various areas such as Beudu to Koindu in Sierra Leone, Liberia to Guinea, and the John Davies Town to Zwedru section in Liberia.
The project is expected to empower women in the program coverage area through agricultural production, marketing, and income-generating activities. It is also projected to create more than 2,000 jobs during the construction phase, with 30% of these jobs allocated for women.
The signing ceremony was attended by government officials from various ministries and agencies, including the Minister of Public Works and the Deputy Finance Minister for Economic Management. The high-level delegation from the African Development Bank also participated in the ceremony.
In conclusion, the loan agreements signed between the Government of Liberia and the African Development Bank demonstrate a commitment to improving road infrastructure and facilitating trade within the Mano River Union Basing. These projects are expected to have a significant impact on economic development and improve the quality of life for the people of Liberia and Sierra Leone.
Read the original article on The Newdawn Liberia
