As The Bank And Liberian Gov’t Sign US$117M Agreement For Saclepea To Toe Town Road
PHOTO: World Bank Country Manager Khwima Nthara
Monrovia-“Development does not only depend on building roads or supporting farmers with agriculture inputs, it also depends on the Government creating a conducive policy and institutional environment for these investments to bear fruit,” World Bank Country Manager in Liberia, Dr Khwima Nthara has asserted.
The World Bank officials was speaking in Monrovia last weekend, when the Bank and the Liberian government signed three financing agreements in the amount of US$ 117 million for the construction of 101 kilometers of paved roads that will link Saclepea to Tappita, Nimba County to Toe’s Town in Grand Gedeh County and US$ 40M for the Second Inclusive Growth Development Policy Operation (IGDPO-2).
The agreements, which were signed by the World Bank official and Liberia’s Finance Minister Samuel Tweah, are part of efforts to boost economic activities in the central to southeastern corridors of the country by improving road connectivity.
“It is a great privilege and honor for me to be participating in yet another huge milestone in the development partnership between Liberia and the World Bank as we sign Financing Agreements of three programs: The Southeastern Corridor Road Asset Management Project (SECRAMP) in the amount of US$62 million of which US$41 million is an IDA Credit and US$21 million is a grant from the British and German Governments, and the EU, provided to Liberia through the Liberia Reconstruction Trust Fund (LRTF) that is managed by the World Bank; The Rural Economic Transformation Project (RETRAP) in the Amount of US$55 Million IDA Credit; and The Second Inclusive Growth Development Policy Operation (IGDPO-2) in the amount of US$40 Million of which US$20 million is an IDA Grant and US$20 million is an IDA Credit. You may remember that it is only two months ago, on April 12th, that we were signing Financing Agreements of two other projects, in energy and social protection. This simply means that our partnership is delivering,” the World Bank Country Manager said.
Min. Tweah and World Bank Country Manager Nthara during the ceremony
Dr. Nthara said the third financing agreement signed recently is for the Second Inclusive Growth Development Policy Operation which is a facility that the World Bank uses to provide budget support to the Government for implementing critical policy and institutional reforms.
He said “in the case of Liberia, we committed to a three-year program and this is the second operation in that series.”
The World Bank Country Manager has commended the Liberian government “for its commitment to carrying out these critical reforms.
“In a special way, I would like to thank the Minister of Finance who has been a champion of these reforms that has made it easy for us to make a case to our Board that Liberia continues to make progress in carrying our critical reforms.” Dr. Nthara added..
Finance Minister Samuel D. Tweah Jr., thanked the Bank, World Bank and other bilateral and multilateral partners for the level of support across several sectors of the economy focusing in the area of Health, roads connectivity, infrastructure development and education.
He lauded the partners for what he termed as “taking practical step” aimed at helping Liberia address the challenge posed by bad road conditions.
Minister Tweah said the Bank continues to work with Liberia in good and difficult times in structuring a path to transforming the country.
“The World Bank has stood with Liberia in good and difficult times by supporting the government in structuring a path to transforming the country,”,the Finance Minister noted.
He described last Friday’s ceremony as “a celebration of partnership and coordination” between the Bank and the government of Liberia.
According to him, development is not immediate; instead, it is the consequence of deliberation and processes with multiple agencies working together to solve risks and challenges.
World Bank Country Manager, Nthara explained that US$ 96 million of the US$ 117 million is an IDA Credit for the SECRAMP and RETRAP projects, while US$ 21 million is a grant from the British, and German governments, and the EU provided to Liberia through the Liberia Reconstruction Trust Fund (LRTF) that is managed by the Bank.