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Captan-Liberia has two major constraints to economic growth

Francis Pelenah /Maximilian Kasseh,Jr.
Monie Captan,Chief Executive Officer of the Millenium Challenge Account Account Liberia
Monie Captan,Chief Executive Officer of the Millenium Challenge Account Account Liberia

MONROVIA,LIBERIA-The Chief Executive Officer of the Millennium Challenge Account Liberia says Liberia has two major constrains to economic growth.

Mr. Monie Captan said study conducted by the MCAL has identified the lack of affordable and reliable electricity and access to road transport infrastructure as constrains to economic growth.

Mr. Captan said the situation has prompted the Liberia Compact Project to lay out programs in those sectors aimed at stimulating economic growth.

Speaking to ELBC Thursday, May 24, 2018, Mr. Captan said those projects are part of a $ 256 million US Government grant through the Millennium Challenge Account.

He said to address some of the gabs; the MCAL has invested $140 million dollars into the Mount Coffee Hydro Plant, amounting to 40 percent of the total cost of the project.

Mr. Captan said the second part of their intervention is a three year management contract to strengthen the capacity of the Liberia Electricity Corporation.

He added that over the next three years, the Team will train Liberians and put in place a proper management system before turning the company over.

 


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