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ECOWAS Bank financing Sassastown-Klowein Road

Varflay Kamara/ Jos Garneo Cephas Sr.
Part of  Southeastern Liberia road in Grand Kru County.
Part of Southeastern Liberia road in Grand Kru County.

MONROVIA, LIBERIA - The people of Southeastern Liberia are expected soon benefit the construction of about 50 kilometers Sassastown-Klowein Road Project being financed by the ECOWAS Bank.

The partial US$50million finance for the construction of the road being approved by the bank mean the realization of the road is secured.

The decision was reached at the 61st Board meeting of Directors of the ECOWAS Bank for Investment and Development (EBID) on March 5, 2019 at its headquarters in Lomé, Togo.

According to a release issued March 11, 2019 the money will go towards the public sector road construction project which includes civil works for the road.

In addition to approving the financing for the Sassastown-Klowein Road project in Liberia, the President for ECOWAS Bank, Bashir Mamman Ifo, said: “Is part of several projects funded by the Bank in the region through resource mobilization from Europe and from Asia.   The 2018 Activity report and Accounts were also approved by the Board of Directors as recommended by the Board of Governors”.

The release, according to him, the ECOWAS Bank is raising funds on a bilateral basis from Asia especially from EXIM Bank India, while discussions are ongoing with China Development Bank.

The Bank President also pointed that the Bank intends to raise French francs 25Billion from the capital market this quarter, as the Bank was authorized to issue a Eurobond in the international capital market. 

 


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