Home Uncategorized 3 Counties to receive 2.1 Million USD Social Dev. Fund

3 Counties to receive 2.1 Million USD Social Dev. Fund

by Maximilian K. Kasseh jr

MONROVIA, LIBERIA-Three Counties have received a 3.1 million US dollar Social Development Fund (SDF).

According to a MICAT release, the three counties are Bong, Bassa and Nimba Counties.

The money represents eighty-percent of Aecellor Mittal’s required allocation to counties, where the Company operates.

In a release issued Wednesday, July 8, 2020, Information Minister Eugene Nagbe said:” The contribution is in fulfillment of an agreement reached between the Liberian Government and Arcelor Mittal.”

The agreement obligates the company to remit eighty-percent of the SDF funds to the Liberian Government, while the remaining twenty-percent will be used to fund development projects in its concession areas.

The release said Nimba County, representing fifty-percent share will receive 1.55 million US dollars, Grand Bassa County representing 33. 3 percent will receive 1. 2 million, while Bong County representing 16. 7 percent will receive five-hundred- twenty-seven-thousand US dollars.

Meanwhile, Finance Minister Samuel Tweah presented the checks to the Legislative Caucuses of the three counties on Wednesday, July 8, 2020, at the Capitol.

By: Zoequay Beysolow-Konneh

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