–Loan will also build stadiums, vocational school & payment due in 15yrs
By Mark N. Mengonfia
At long last, the Liberian legislature has received the ratification request of a loan in the tom of US$ 536,400.00 to be paid in 15 years at an interest rate of 1.45% per annum within a 7-year interest and principal free grace period.
The request was send to the Liberian legislature by President George M. Weah who recently promised of a Coastal Highway.
In the loan ratification request to members of the Liberian legislature, President Weah said that the objective of the loan is to finance the Coastal Corridor connection of County Capitals Road project, construction of the Buchanan to Cestos City, to Greenville and to Barclaryville Roads.
The President also indicated in the communication to both the House of Representatives and the Liberian Senate that the loan agreement, when ratified by them, is also going to connect the Barclayville-Sasstown Road, the Barclayville-Pleebo Road, the Robertsport road and the Tubmanburg-Bopolu Road.
According to the Liberian leader, when approved, the funding is also going to construct rest stops and roadside service areas, the construction of a vocational training center in Greenville, Sinoe County.
The proposed money is also expected to build mini sport stadiums in Harper, Barclayville, , Greenville, Cestos City Zwedru Robertsports and Bopolu cities.
According to the Liberian leader, the contractor of the project shall be the JVC or Consortium comprising MAEIL Liberia Construction Co.
Limited, a major Chinese Engineering, procurement and operation Company and concentrator(s), comprising Liberian-owned and operated construction and engineering companies which are all going to be vetted and confirmed by the Ministry of Public Works in respect of their technical capabilities.
President Weah said in the communication addressed to the Speaker as saying “Honorable Speaker, trust that the Legislature will ratify this agreement which seeks to provide employment, build our infrastructures, and strengthen or union, and drive our pro-poor agenda for the good of our Liberian people”.
It can be recall that Senate Pro tempore, Albert T. Chie informed Liberians that the Coastal Highway project was unachievable and that there was no funding to ensure that the project is implemented, but with the proposed US$ 536,400.00(Five hundred thirty six million- four thousand United States dollars, Liberians are of the convinced that the project will be achieved in the near future.
Members of the House of Representatives upon reading the communication forwarded the president’s request to it committees Ways, Means Finance and Development Planning and Judiciary to report within a period of two weeks.