GoL, EBID Sign US$ 50M Loan Agreement
-To Pave Southeastern Road
The Government of Liberia and the Ecowas Bank for Investment and Development on Tuesday July 30, 2019, signed a loan agreement for the pavement of Liberia’s southeastern road.
The 50 million United States dollars facility is also expected to finance civil works of 50km of road construction between Barclayville-Klowne and Sasstown on the Southeastern corridor.The southeastern road corridor which stretches from Buchanan, Grand Bassa to Grand Kru County is being considered as a signature road project announced by President Dr. George M. Weah.
The loan agreement signed during the EBID Board of Directors meeting and at the bank headquarters in Lome, Togo is a major boost for the government roads development program.
Liberia’s Deputy Minister for Economic Management at the Ministry of Finance and Development Planning Hon. Augustus J. Flomo represented the Government of Liberia, while EBID President Bashir MammanIfo represented the bank during the signing ceremony.
President Bashir MammanIfo during the signing expressed the bank continuous support to the development of Liberia and committed the bank pledged of working with Liberia for the success of the project.
Deputy Minister Augustus Flomo also recounted the President and Government of Liberia commitment to the infrastructural development of Liberia with emphasis on road construction and others.
Mr. Flomo maintained that the Pro-Poor Agenda for Prosperity and Development (PAPD) is meant to get over 1 million people out of poverty.