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Prez Weah submits 426m USD loan agreement to Legislature

BST/Release/Maximilian Kasseh,Jr.
President George Weah
President George Weah

MONROVIA, LIBERIA-President George Manneh Weah has submitted a new pre-financing Loan Agreement in the tone 426 Million United States Dollars to the National Legislature for ratification.

The loan agreement entered into by the Government of Liberia and Group EBOMAF will be financed by the Eurobond, redeemable after a 15-year with a five year grace period and a ten 10-year interest only on payment.

The loan, when ratified, will be used for the construction of 256.2 Km of paved roads and bridges in Monrovia and major corridors of the interior of the Country.

According to a release issued on Friday, June 1, 2018, EBOMAF will begin pre-financing the road project within three months after the agreement is ratified.

The roads to be constructed through this agreement are the Sinkor to Kessellie Boulevard elevated road, Zwedru to Greenville, Toe Town to the Ivoirian Border and Tapita to Zwedru.

The release said the decision has been solely endorsed by the cabinet as Liberia stands to benefit from a great deal of economic growth though the provision of jobs as well as significant increase to Liberia’s GDP.

 


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