-From ELWA Junction to Red Light-Guinea border
The House of Representatives yesterday voted unanimously to pass into law a ‘Financing Agreement’ for the Road Access Management Project in the amount of US$40m.
The amount of the agreement was signed on July 25, 2017, and represents the second additional credit to pave and maintain the roads from Monrovia (ELWA Junction to Red Light) to the Guinea border.
The bill is entitled ‘Financing Agreement (Amending and Restating Financing Agreement) Road Access Management Project between Republic of Liberia and International Development Association.’
The agreement is to rehabilitate, upgrade, maintain periodically and routinely, and install proper mechanism for control of road right of way from Monrovia (ELWA-Red Light) to the Guinea border.
It is also intended to rehabilitate about 4.5km of the ELWA Junction to Red Light stretch of road – including construction of an intersection of ELWA, thus completing the Monrovia-Ganta Highway.
The bill was unanimously approved by members of the House of Representatives on Thursday, September 21, during the 63rd day sitting, because of a report from the Joint Committee on Ways, Means, Finance and Development Planning and Judiciary.
The US$40m loan is to support the Government of Liberia’s efforts to reduce the cost of road transportation from Monrovia to the Ganta-Guinea border and to maintain the road in good condition for 10 years.
“As per the agreement, repayment is due on each June 15 and December 15 and will begin June 15, 2023, up to and including December 15, 2054, at the rate of 1.5625 percent of the principal amount of the credit,” the Joint Committee said. The bill was sent to the Liberian Senate for concurrence.
It may be recalled that on Monday, March 7, 2016, President Ellen Johnson Sirleaf dedicated the first phase of the newly paved Gbarnga-Ganta highway to the Guinea border with a call to the citizens of Nimba and Bong counties to take ownership of the road, which according to her, will improve access, ensure regional integration, and economic cooperation among the four Mano River Union member countries.
Speaking on behalf of President Alpha Conde of Guinea, Presidential Adviser and Minister of State of Guinea, Mr. Ousmane Bah, thanked President Sirleaf for the honor and the invitation to participate in the dedicatory ceremony of the Gbarnga to Guinea border road project.
Mr. Bah said with the completion of the road, it will be possible for citizens of both countries to travel to Guinea and Liberia, particularly Monrovia to Nzerekore.
In separate remarks, World Bank Country Manager Inguna Dobraja and the European Union Charge d’Affaires Emma Sundblad stated that the road will enhance economic development of the remote areas by connecting the country and creating access to markets, schools, health centers, and other services essential for improving the well-being of citizens, and the growth and development of Liberia.