Hungary Commits US$50M Grant to Liberia’s Development

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–Promises 10 fully funded scholarships annually

The Government of Hungary has committed to providing a US$50 Million Grant to the Government of Liberia (GoL) with additional plans of signing cooperation agreements in several sectors.

The commitment was expressed on the sidelines of the 74th session of the United Nations General Assembly (UNGA) where Liberia’s Foreign Minister, Gbehzohngar Milton Findley, signed the scholarship agreement on behalf of the Government, while Hungary’s Minister of Foreign Affairs and Trade, Peter Szijjarto, signed on behalf of his country.

According to a Foreign Ministry release, the US$50 million grant will be directed towards supporting developments in the Information and Communication Technology (ICT) Sector, as well as the energy and water sectors.

The Hungarian government has also committed to providing ten scholarships annually to Liberia beginning September 2020, as part of efforts to assist the Government of Liberia with building the human resource capacity of its citizens abroad.

The scholarship is expected to be a 100% fully founded scholarship, as no fees will be required of benefiting students.

The release added that the Hungarian government is expected to also provide technical and capacity building support in the fisheries sectors and will also initiate other programs aimed at stimulating growth that would further boost the sector.

Meanwhile, the Government of Liberia has been requested by her Hungarian counterpart to open a full Consulate in Budapest, Hungary, so as to further strengthen the already cordial bilateral relations subsisting between the two countries.

Also on the sidelines of the 74th session of UNGA in New York, the Government of Liberia and Iceland signed an Air Service Agreement for the purpose of establishing international air service between and beyond their respective territories.

Minister Findley signed on behalf of the Liberian government, while Mr. Guolaugue por Poroarson, Minister of Foreign Affairs of Iceland, signed on behalf of his country.

The agreement is a desire by both countries to promote an international aviation system and to ensure the highest degree of safety and security in international air services and to reaffirm their grave concern about threats against the security of aircrafts which jeopardize the safety of persons or property.

The agreement will also serve to facilitate the expansion of international air service opportunities.

Liberia and Iceland are parties to the Convention on International Civil Aviation, opened for signature at Chicago on December 7, 1944.

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