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China, Liberia signed Memorandum for development

Francis Pelenah/Jos Garneo Cephas Sr.
Finance and Development Planning Minister, Samuel Tweah
Finance and Development Planning Minister, Samuel Tweah

MONROVIA, LIBERIA-Liberia is set to experience an infrastructure boom in the coming years after the signing of a Memorandum of Understanding with the government of China.

Finance and Development Planning Minister, Samuel Tweah said: “The agreement is not a loan but an investment in the tune of US2.5billion arrangement that will allow China extract Liberia’s natural resources in favor of building priority infrastructures for the people of Liberia”.

Minister Tweah made the disclosure Tuesday, September 11, 2018 at a special MICAT special Press Conference in Monrovia.

Under the framework which is a natural resource swap investment, China will build priority infrastructures in Liberia in the tune of 2.5 billion United States Dollars.

Minister Tweah named some of the key projects as roads, energy, health, education and agriculture.

At the same time the government of Liberia has also reached an agreement with China to cultivate between 500 to 1 million metric tons of rice for the people of Liberia.

Minister Tweah said this agreement will make up for the huge loss of foreign exchange on the importation of rice while at the same time creating thousands of jobs for Liberians.

 


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