World Bank Official Harps On arps Harps Road Project Financing

inguna_dobraja_the_world_bank_countryWorld Bank -Liberia Country Director Iguna Dobraja says financing of the Gbarnga- Ganta-Guinea border road project by the World Bank is a manifestation of the entity’s support to Liberia’s development agenda.

Madam Debraja said the road project will create conducive environment for economic growth and improve the living standards of Liberians.

She noted that the Gbarnga-Ganta-Guinea border road project will also help reduce transportation cost and boost economic activities between Liberia and Guinea.

Madam Dobraja made the statement Monday in Ganta, Nimba County during the dedication of the Gbarnga-Ganta- Guinea border road.

The Liberian Government and the World Bank in 2011 signed a US$249 million agreement to rehabilitate about 249 kilometers of road spanning Monrovia-Gbarnga-Ganta-Guinea border.

The objective of the project is to support Liberia’s efforts to reduce transportation costs and travel time along the road corridor from Monrovia to the Guinea border and to maintain the road in good condition over a 10-year period.

Towards the total cost of the project, about US$176 million is being provided by the International Development Association (IDA) through its credit to Liberia, and about US$109 million grant from the multi-donor Liberia Reconstruction Trust Fund (LRTF) administered by the World Bank, among others.

The Oversight Committee (OC) of the LRTF also approved the project concept the same year and committed funds to co-finance the road project, through contributions and pledges received from the governments of Germany, Sweden, Ireland, the United Kingdom and Norway, the European Commission and the World Bank.

LINA PTS/TSS/PTK

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About Cholo Brooks 15600 Articles
Joel Cholo Brooks is a Liberian journalist who previously worked for several international news outlets including the BBC African Service. He is the CEO of the Global News Network which publishes two local weeklies, The Star and The GNN-Liberia Newspapers. He is a member of the Press Union Of Liberia (PUL) since 1986, and several other international organizations of journalists, and is currently contributing to the South Africa Broadcasting Corporation as Liberia Correspondent.