PHOTO: (L-R) Benedict Kanu, AFB Country Director; Boima Kamara, Finance Minister at the signing ceremony
The African Development Bank (AfDB) and the Liberian government have signed two loan agreements value 40 million United States Dollars for the Mano River Union (MRU) road development and the transport facilitation program in Liberia.
The loan agreements were by Benedict Kanu, the Country Director, African Development Bank, on behalf of his institution and Boima Kamara, Finance and Development Planning Minister, signed on behalf on the Liberian government.
The signing ceremony for the 40 million United States Dollars loan agreement was held at the 10th floor conference room at the Ministry of Finance and Development Planning in Monrovia during the weekend.
Speaking at the signing ceremony, the Country Director of the African Development Bank, Benedict Kanu said the money will used to build the 97=kilometer road in Liberia and connect bridges between the MRU states.
According to him, the fourth phase of the program entails the upgrade the bitumen standard of 48.5 kilometer of roadway in Liberia and 39 kilometer in Sierra Leone.
“ It will also finance feasibility studies for building 97 kilometer of roads in Liberia, “ Mr. Kanu said; adding: “ other project components including cross-border infrastructures between Liberia and Sierra Leone, developing socio-economic infrastructure and providing support to women and youth associations to promote much needed private enterprise.”
“The program is intended to help improve the standard of the roads connecting Beudu to Koindu in Sierra Leone linking Liberia and Guinea and the John Davies Town to Zwedru section on the Fish Town-Zwedru axis in Liberia.”
The AfDB Country Manager explained that the project will empower women in program coverage area through stimulation of agricultural production and marketing, income-generating activities and other indirect outcome, including the creation of more than 2,000 jobs during the construction phase, of which 30 percent are for women.
For his part, Finance and Development Planning Minister, Boima Kamara, thanked the African Development Bank on behalf of President Joseph Boakai, the Liberian government and people for the partnership between the ADB and Liberia.
He said the signing ceremony of the MRU road development and the transportation facilitation program is an extension of the infrastructural support that Liberia needs for the enabling environment for the expansion of growth and development of the people.
“Certainly, the phase four , which happens the important step beyond the Batumi standard will entails the upgrade of 48.5 kilometers of road way in Liberia and 39 kilometer in Sierra Leone.”
“We view this as an expression of greater support to the MRU between the two nations because it will also finance the feasibility studies for the building of 97 kilometers of road in Liberia and other projects components including rehabilitating cross border infrastructures between Liberia and Sierra Leone , developing socio-economic infrastructures and providing to women as there is a gender dimension as well as taking consideration of involvement of youths associations so as to promote the much needed private enterprise. ”
“Another important element is to stimulate agriculture productivity by creating farm to market road which will gradually improve the lives of our people by the increase in the prices of the agricultural commodities.”
“We believe that in the broader scope of things, the creation of 2,000 jobs with 30 percent comprising of women will take our infrastructural development into another level.”
The signing ceremony was graced by Public Works Minister, Roland Giddings; Dekpue Zao, Deputy Finance Minister for Economic Management members of the senior management team at the Ministry of Finance, among others.