GoL, EBID Sign US$50M Loan Agreement

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Deputy Finance Minister for Economic Management, Augustus J. Flomo, represented the GoL, while EBID President Bashir Mamman Ifo, represented the bank at the signing ceremony.

On Tuesday, July 30, 2019, the Government of Liberia (GoL) and the Economic Community of West African States (ECOWAS) Bank for Investment and Development signed a loan agreement to pave the country’s Southeastern road.

The US$50 million 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 County to Grand Kru County is being considered as a “signature road project” that President George weah recently announced.

According to a release, the loan agreement signed during the EBID Board of Directors meeting at the bank headquarters in Lome, Togo is a major boost for the government roads development program.

Deputy Finance Minister for Economic Management, Augustus J. Flomo, represented the GoL, while EBID President Bashir Mamman Ifo, represented the bank at the signing ceremony.

At the ceremony, Mr. Ifo expressed the bank continuous support to the development of Liberia, and committed the bank’s pledged of working with Liberia for the project to succeed.

For Mr. Flomo, he also recounted the President and Government of Liberia commitment to the country’s  infrastructural development with emphasis on road construction.

Flomo said that the Pro-poor Agenda for Prosperity and Development is meant to get over at least one million people out of poverty in the country.

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