MONROVIA, LIBERIA – The Liberian Government delegation led by Finance & Development Planning Minister Augustine Kpehe Ngafuan has secured the commitment of the Kuwaiti Fund for Arab Economic Development to lead a group of Arab lenders to mobilize financing for the 114km of Salayea to Voinjama as part of the pavement of the Gbarnga to Mendikorma Road Project.
The Arab lenders include the Saudi Fund for Development, the Arab Bank for Economic Development in Africa (BADEA), the OPEC Fund for International Development (OFID), and the Abu Dhabi Fund.
This Commitment came during productive discussion held over the weekend in Kuwait City with the Acting Executive Director General of the Kuwaiti Fund, Waleed S. Al- Bahar and team.
The high- powered Liberian Government delegation include Public Works Minister Hon. Roland Giddings, Managing Director of the National Port Authority, Hon. Sekou A. M; Dukuly.
Deputy Minister for International Cooperation and Economic Integration, Ministry of Foreign Affairs, Dr. Ibrahim Al-Bakri Nyei, and Deputy Minister for Economic Management, MFPD, Hon. Dehpue Zuo.
Sunday’s commitment by the Kuwaiti Fund to lead resource mobilization for the Salayea – Voinjama leg of the Highway project followed the signing also today of an agreement between the Liberian Government and the Kuwaiti Fund to restructure the $ 6.7 million outstanding debt obligation to the Fund.
This agreement lifts a previous suspension on disbursements related to the highway project. The suspension on disbursement was imposed in early 2023 following the Government of Liberia’s year on year delinquency in repaying a $14 million loan extended in 2016 to the National Port Authority (NPA).
Accordingly, the Kuwaiti Fund has now agreed to make previously withheld disbursements to contractors working on the Gbarnga – Salayea Highway in order to facilitate the expeditious completion of the road project.
During today’s discussion in Kuwait City, it was agreed that priority will be given to mobilizing $77 million for the pavement of a 50 km stretch of road between Konia to Voinjama, which is estimated to cost $65 million dollars and adding an extra layer of asphalt to an 81 km section at the cost of approximately $11 million.
It was also agreed that a meeting between the Liberian Government and Arab lenders led by the Kuwaiti Fund will be held next week on the sidelines of the IMF/World Bank Spring Meeting in Washington D.C.
The Government of President Joseph Nyuma Boakai few months earlier secured funding commitment from the African Development for the Voinjama – Mendikorma scratch of the highway.
The Liberian Government representatives in Kuwait are also expected to hold further talks with Kuwaiti Port authorities and other officials of the Kuwait Government aimed at further strengthening the bilateral relationship.
It can be recalled that the Kuwaiti Fund led in 2016 the same consortium of Arab Lenders and mobilized resources for the Gbarnga – Salayea Highway.
Meanwhile, the Liberian delegation expressed its sincere gratitude to the Government and people of Kuwait for their continued partnership in advancing Liberia’s infrastructure development—especially in the area of road connectivity.
Additionally, the Liberian government used the opportunity to seek Kuwait’s support for Liberia’s candidacy for a non-permanent seat on the United Nations Security Council.
