GOL-ECOWAS BANK FOR INVESTMENT AND DEVELOPMENT SIGNS AIDE- MEMOIR FOR THE CONSTRUCTION OF PHASE-1 OF THE COASTAL HIGHWAY


Photo Credit: MPW PUBLIC AFFAIRS
The Government of Liberia, through the Ministry of Public Works and the Ministry Finance Development and Planning has signed US$ 100m loan agreement deal (Aide-Memoire) with the ECOWAS Bank for Investment and Development for the construction of phase-1 of the Coastal Highway Road Corridor. The Agreement which was signed in Monrovia on Friday, December 7, at the Boulevard Palace Hotel, the Minister of Public Works, Hon. Mobutu Vlah Nyenpan and the Minister of Finance Development and Planning Hon. Samuel Tweah signed on behalf of the Government of Liberia , while Mr. J. Joe-Weah Wallace a consultant at the ECOWAS Bank for Investment and Development signed on behalf of the Bank. The Corridors ( Roads) to be constructed under this agreement includes, the pavement of Barclayville through Sass Town (Grand Kru County) to Klowne ( Sinoe County) totalling 96.6km. Meanwhile, the project will begin Mid-2019 and expected to be completed by 2021. It can be recalled, Hon. Mobutu Vlah Nyenpan earlier this year, told journalists that the total amount needed to connect all major regions in Liberia is about US$ 1.5 Billion, against this backdrop, the Government of Liberia went out to partners to source funding for Roads construction. The Signing of this agreement by the Liberian Government is a drive toward Pres. George M. Weahs Developmental Priority for Roads Construction Nation-wide. The Liberian President on several occasions , identified road construction as his top priority and told Liberians that road connectivity is essential to national development.