23.8 C
Liberia
Thursday, April 24, 2025

Tel/WhatsApp +231 888178084 |onlinenewsverity@gmail.com

Ads

GOL Seeks Kuwaiti Fund to Lead Resource Mobilization for Highway Project

The Kuwaiti Fund for Arab Economic Development has committed to spearheading resource mobilization for the 114-kilometer Salayea–Voinjama section of the Gbarnga–Mendikorma Highway Project. This major breakthrough follows high-level discussions between a Liberian government delegation and top officials of the Kuwaiti Fund in Kuwait City.

Leading the delegation, Liberia’s Minister of Finance and Development Planning, Augustine Kpehe Ngafuan, secured the Fund’s pledge to rally support from a consortium of Arab lenders. These 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.

During Sunday’s meeting, the Kuwaiti Fund, represented by Acting Executive Director General Waleed S. Al-Bahar, reaffirmed its commitment to Liberia’s development efforts by agreeing to resume disbursements previously suspended due to loan repayment issues. The parties also signed an agreement restructuring Liberia’s outstanding $6.7 million debt to the Fund, originally part of a $14 million loan extended in 2016 to the National Port Authority.

This development unlocks critical funding for the continuation and completion of the Gbarnga–Salayea Highway, with an immediate focus on the pavement of a 50-kilometer road stretch from Konia to Voinjama, estimated at $65 million. An additional $11 million will be allocated to reinforce an 81-kilometer segment with a new asphalt layer.

The Liberian delegation included key figures such as Public Works Minister Roland Giddings, Deputy Minister for International Cooperation and Economic Integration Dr. Ibrahim Al-Bakri Nyei, Deputy Minister for Economic Management Dehpue Zuo, and National Port Authority Managing Director Sekou H. Dukuly.

It was further agreed that a follow-up meeting involving Arab lenders will take place next week in Washington D.C., on the sidelines of the IMF/World Bank Spring Meetings, to solidify funding strategies and timelines.

This renewed engagement builds on past cooperation; notably, the Kuwaiti Fund played a leading role in mobilizing resources for the Gbarnga–Salayea Highway back in 2016.

The Government of President Joseph Nyuma Boakai had earlier secured support from the African Development Bank for the Voinjama–Mendikorma segment of the highway, underscoring the administration’s commitment to regional connectivity and economic growth.

Beyond infrastructure, the Liberian delegation is also engaging Kuwaiti officials on broader bilateral initiatives, including potential partnerships in port development and multilateral diplomacy. Notably, Liberia is seeking Kuwait’s endorsement for its bid for a non-permanent seat on the United Nations Security Council.

The Liberian Government extended its deep appreciation to the people and Government of Kuwait for their enduring partnership and support toward Liberia’s development goals, particularly in the transformative area of road connectivity.

spot_img

Related Articles

Stay Connected

28,250FansLike
1,115FollowersFollow
2,153SubscribersSubscribe
- Advertisement -spot_img

Latest Articles

Open chat
Powered by VERITY NEWS
Hello
Can we help you?