W/Bank Announces US$25 Support
-Boosts Liberia’s Development
The World Bank Group has provided a $25m budget support grant to the Liberian Government and expressed commitment to fund President George Manneh Weah’s vision for road connectivity, including a coast highway.
A delegation of the World Bank Group and officials of the Liberian Government met Friday, February 2, 2018 and signed the Agreement at the behest of the Country Director for Ghana, Liberia and Sierra Leone, Mr. Henry G. R. Kerali who paid a courtesy call on Pres. Weah at his Rehab Residence, outside Monrovia.Mr. Kerali expressed the Bank’s commitment to supporting Pres. Weah’s infrastructural agenda by prioritizing road construction and disclosed plans for the pavement of the Ganta-Tappita highway and the likelihood of paving the Tappita-Fish Town highway.
The delegation told the Liberian leader that the Bank fully embraces his vision for road connectivity, particularly the building of a coastal highway and promised to use the same financing model of the Bank for the Ganta-Tappita Highway for the construction of a coastal highway as proposed by Pres.Weah.
According to a dispatch from the Executive Mansion dated Friday, February 2, 2018, the delegation divulged that within two months, the Bank would be able to get approval to finance the construction and pavement of Phase I of the project, which is the Ganta-to-Tappita Highway, a 125km road at the cost of $100m.the delegation also announced that the Bank has been able to secure $40 million of the funding and is looking to sourcing the additional $60 million from the private sector.
The delegation further noted that Phase 2 of the project will be the pavement of the Tappita-Fishtown highway, once the funding becomes available.
“As far as timeline for the implementation of this project, we should expect the approval of the funds within 2 months, followed by the contractual procedures of the project,” the delegation told Pres.Weah and other officials of Government.
“The contract will be sent to the Liberian Legislature for ratification,” adding, “We can therefore expect to see the pavement of the Ganta-Tappita Highway begin within 4-6 months depending on how fast the Liberian Government can ratify the agreement after it is submitted.”
The delegation also expressed the Bank’s support for the President’s agenda for free education and promised to make available some grants towards the effort.
Meanwhile, speaking at the meeting, Pres. Weah said, he was elated that the World Bank which is one of Liberia’s strong traditional partners has moved so fast to help his government succeeds in the realization of his vision for Liberia’s transformation.
The Liberian Leader thanked the delegation for the visit and promised that his government was poised to work with the World Bank and other partners in the fight against poverty, disease and illiteracy.
The meeting was attended by the Minister of State, Nathaniel Falo McGill, Minister of Finance,. Samuel Tweah, Minister of Information, Eugene Nagbe, Archie Bernard, Legal adviser to the President, and TrokonKpui, Minister of State without portfolio, designate.
Meanwhile, the signing ceremony for the grant of US $25 million towards budgetary support was executed at the end of the World Bank delegation’s visit.