BUCHANAN ─ ArcelorMittal Liberia and the Government of Liberia announce the launch of the Community Development Fund for communities in proximity to the operations of ArcelorMittal Liberia in Nimba, Grand Bassa and Bong Counties.
In 2020, the Government of Liberia and ArcelorMittal Liberia agreed that the company shall disburse 20% of the County Social Development Fund, while it pays 80% to the Government on behalf of the beneficiary Counties, a press statement from ArcelorMittal said on Wednesday, August 19, 2020.
According to the agreement, ArcelorMittal Liberia will disburse the 20-percent directly to beneficiary communities within the vicinity of the iron ore mine, port and along the length of the railroad in Bong, Nimba and Grand Bassa Counties through the implementation of various projects. The 2020 allocation to the Community Development Fund is eight hundred forty thousand US dollars (US$ 840,000).
The Community Development has a three-tier management structure. All projects are selected by beneficiary committees (in District Sittings) and are approved by the County Approval Committee in each County. ArcelorMittal Liberia will manage all contracts for goods and services and disburse payments.
Projects will be in the areas of agriculture, education, roads and bridges, water, health and hygiene, community cohesion and peacebuilding and housing.
About ArcelorMittal
ArcelorMittal is the world’s leading steel and mining company, with a presence in 60 countries and primary steelmaking facilities in 18 countries. In 2019, ArcelorMittal had revenues of $70.6 billion and crude steel production of 89.8 million metric tonnes, while iron ore production reached 57.1 million metric tonnes.
Our goal is to help build a better world with smarter steels. Steels made using innovative processes which use less energy, emit significantly less carbon and reduce costs. Steels that are cleaner, stronger and reusable. Steels for electric vehicles and renewable energy infrastructure that will support societies as they transform through this century. With steel at our core, our inventive people and an entrepreneurial culture at heart, we will support the world in making that change. This is what we believe it takes to be the steel company of the future.
ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MT), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).
For more information about ArcelorMittal please visit: http://corporate.arcelormittal.com/, https://liberia.arcelormittal.com/
Contact information for Liberia:
ArcelorMittal Liberia Corporate Communications
E-mail: amanda.hill@arcelormittal.com
Phone: +231 779 095 265
Amanda M. Hill (Head of Corporate Communications, Liberia)
Project Summary
| Project Title | Community Development Fund |
| Purpose | Fund development projects for communities in proximity to ArcelorMittal Liberia operations in Nimba, Grand Bassa and Bong Counties. Implementation Period August 2020 – July 2021 (pilot phase) Cost $840,000 or 20% of the County Social Development Fund for 2020 Funded By ArcelorMittal Liberia |
| Beneficiaries | People living in communities of impact within the vicinity of the iron ore mine, port and along the length of the railroad from the ArcelorMittal Liberia iron ore mines in Nimba County via Bong County to the iron ore port in Grand Bassa County. |
| Management Structure | The Community Development Fund shall apply a grassroots decision-making approach to deciding development projects, beginning at the community level and ending at the County level. All project decisions emanate from the communities via District Sittings to the County Approval Committee and then to ArcelorMittal Liberia. Membership of the County Approval Committee comprises the County Superintendent, a representative from the Ministry of Mines and Energy, a representative from the Ministry of Internal Affairs and a representative from the Ministry of Finance and Development Planning. |
| Categories of Project | Agriculture: seeds; tools; small equipment; produce storage facilities. Education: procurement of learning materials; construction / repairs of schools; skills training centers; short term programs for new skill development, related materials and instruction provided such programs shall not be implemented in once area more than once a year. Roads and bridges: construction/rehabilitation of farm-to-market road and community bridges. Water, health and hygiene: construction / rehabilitation of health centers; construction or repair of water hand pumps, public toilets and drainages. Community cohesion and peacebuilding: construction / rehabilitation of town halls and youth centers. Housing: construction or repair of homes (for vulnerable people) damaged by natural disaster. |
| Budget | USD $840,000 (Eight hundred forty thousand United States Dollars) |
| Contracting | All contracts for goods and services must be issued as per PPCC requirements. |
| Timeline | August 2020─July 2021 |
| Implementation Modality | Direct disbursement by ArcelorMittal Liberia for approved projects |