Big Boost for Liberia's Road Sector as the Government of Liberia and World Bank Signed Three Financing Agreements valued at US$157M
In what is deemed a watershed moment in the history of Liberia's Road Sector, the Government of Liberia and World Bank today, June 18, 2021 signed Three Financing Agreements valued at US 157M, affecting the Southeastern Corridor Road Asset Management Project ( SECRAMP), the Rural Economic Transformation Project ( RETRAP), as well as the Second Inclusive Growth Development Policy Operation (IGDPO-2).
Making special remarks at the Signing Ceremony which was held under the auspices of the Ministry of Agriculture, World Bank Country Manager, Dr. Khwima Nthara said the Southeastern Corridor Road Asset Managment Project in the amount of US$62 Million, 41M is an IDA Credit Facility and 21M is a grant from the British and German Governments, as well as the European Union provided to Liberia through the Liberia Reconstruction Trust Fund ( LRTF) that is managed by the World Bank.
According to him, The Rural Economic Transformation Project (RETRAP) covers US$55 Million IDA Credit, while the Second Inclusive Growth Development Policy Operation is in the tone of US$40 Million, of which US$20 million is an IDA Grant and US$20 Million is an IDA Credit Facility.
Dr. Nthara lauded the efforts of the Liberian Government for structural reforms, and intimated that the World Bank-Liberia Partnership is delivering.
For his part, Finance and Development Planning Minister and Acting President, Samuel Tweah who signed on behalf of the Government of Liberia, stressed the need for what he called " more practical approaches " that find solutions to the age-long problems that confront the country.
He praised the World Bank and other bilateral and multilateral partners for the level of support across several facets of the Liberian Economy, especially in the area of roads connectivity which the Government espouses as a flagship pillar of its Pro-Poor Agenda for Prosperity and Development (PAPD).
Also speaking, Acting Public Works Minister, Ruth Coker-Collins said the signing of additional Three Financing Agreements represents a milestone in the Road Sector.
The Public Works Official could not hold back her excitement, as the ratification of these Agreements by the Legislature subsequently, will witness the pavement of major road corridors in the Southeast, with Zwedru in Grand Gedeh County being connected with Tappitta in Nimba County.