Monrovia – The House of Representatives has approved a financing loan agreement for the construction of the road project linking Gbarnga to Salayea in Bong and Lofa Counties, respectively. US$20 million has been secured to carry out a partial financing of the project through a loan from the OPEC Fund under the terms and condition of OFID Loan Agreement. The government also obtained a loan of US$20 million from the Saudi Fund for Development to assist in funding the project. The Liberian government also obtained a loan of US$5,000 from the Abu Dhabi Fund under the Abu Dhabo Fund Loan Agreement to partially finance the project. The loan shall be repaid in 42 semi-annual instalments following a five-year grace period according to the amortization plan.

Source: Front Page Africa November 23, 2017 02:48 UTC