Boniface Satu, Manager of the National Road FundMonrovia – The Manager of the National Road Fund says the government of Liberia has already set aside almost US$12 million as matching fund to the Millennium Challenge Compact’s road fund contribution to the country. The road fund, which is an Act of Legislation, is intended to underwrite the cost of periodic maintenance of roads and bridges in the country. But delays in the transfer of funds to the escrow account – a pre-condition captured in the MCC compact for Liberia – have caused the US government to cancel a US$15 million NRF package. As part of the Compact, Liberia was obligated to achieve11 conditional precedents before the MCC disburses its funding to the NRF. He disclosed that for fiscal year 2018/2019, despite the delays due to the stalemate in completing certain procedurals, over US$5 million was transferred to the escrow account.

Source: Front Page Africa December 18, 2019 05:39 UTC