Monrovia – Vice President Joseph Boakai has reiterated that the Gbarnga-Mendikorma highway project will not only bring great relief to the people of northern Liberia, but will also open up the country to commerce and trade and increase the nation’s GDP.
He said without roads, it becomes impossible to execute programs in health, education, agriculture and other areas that are critical to the growth and development of the nation.
The Vice President’s remarks were contained in a statement read on his behalf by the Director of Finance in the Office of the Vice President, Mr. Elwood Nettey at the signing ceremony held between Bong and Lofa Counties, which is in furtherance of the implementation of the Gbarnga-Salayea Road Rehabilitation Project, the Government of Liberia through the Ministry of Finance and Development Planning and the Saudi Fund for Development.
The signing was a financing agreement that will cover the first section of Lot one (1) of the Gbarnga-Mendikorma highway project at the cost of Twenty Million Dollars, a release from the Office of the Vice President said.
The Ministry of Finance and Development Planning has indicated that the primary objective of the Gbarnga-Salayea road rehabilitation project is to contribute to the economic and social development of Liberia through the development, expansion and integration of its road network and that Government’s objective of implementing this critical project, which is also focused on reduced travel time and cost, improving accessibility, achieving road safety and security, and ultimately improve the standard of living of the inhabitants of Bong and Lofa Counties.
According to Vice President Boakai, he is extremely delighted to have the signing ceremony today which is a fulfillment of the pledge of the Government to bring the highway project to a reality and thanked the partners and implementing agencies for the level of interest and commitment they have shown for the realization of the project.
The Gbarnga-Mendikorma highway project is estimated at US$40 million. Lot 1 is the stretch from Gbarnga to Konia, which is estimated at US$184.7 million and is approximately 137 kilometers in length, located in Bong and Lofa Counties, while the first section of this lot is from Gbarnga to Salayea and its project estimated cost is US$95.1 million.
Donor’s commitment for section one of Lot 1, which is Gbarnga-Salayea is placed at 82.5 million, while the Government of Liberia’s contribution or counterpart funding is US$12.6 million.
The signed agreement will be transmitted to the Legislature for ratification and when completed, the project will make North-Western Liberia to be easily accessible and accelerates cross-border trade between Sierra Leone and Guinea thereby enhancing the economic status of inhabitants of the Mano River Union Countries.
The signing commemorates the fourth signing ceremony for funds earmarked for the Gbarnga-Salayea road project. Over the last two months, the financing agreement with the OPEC Fund for International Development was signed in Vienna, Austria and financing Agreement with the Kuwait Fund for Development was also signed in Monrovia, the Ministry of Finance and Development Planning explained in a release.
A similar ceremony with the Abu Dhabi Fund is expected to take place thus sealing the financial package needed for the full implementation of said project.
According to the MFDP ‘agreements with donors signed and ratified by the Legislature to consummate the project includes; the OPEC Fund for International Development, OFID US$20 million, The Kuwait Fund for Arab Economic Development,(KFAED) US$15.5 million and the Arab Bank for Economic Development in Africa,(BADEA) US$12 million.