Kuwait Fund for Arab Economic Development Participates in Opening of Road Project in Liberia
The Kuwait Fund for Arab Economic Development participated today, Wednesday, in the inauguration of the Banga-Salieh road development project in the Republic of Liberia, as well as in the laying of the foundation stone for the Salieh-Konia road project, as part of its ongoing efforts to support infrastructure projects and promote sustainable economic and social development in friendly nations.
In a statement conveyed by the Kuwait Fund, President of the Republic of Liberia Joseph Nyuma Boakai said that these investments build far more than just roads, as they create opportunities for farmers, traders, students, businesses, and families, while also connecting communities, expanding economic opportunities, and improving the quality of life for the Liberian people. The President expressed his sincere appreciation, on behalf of the government and people of Liberia, to the Kuwait Fund for its steadfast friendship and confidence in Liberia.
For his part, Thamer Al-Filakawi, Director of the Operations Department at the Fund, said in a similar address that the project represents an important milestone in the cooperation process between the Fund, the Government of the Republic of Liberia, and the participating financing institutions. He added that the project reflects the importance of development partnerships in implementing projects that serve communities and support sustainable economic and social development.
Al-Filakawi noted that the project embodies the fruits of this cooperation, affirming the Fund’s aspiration to continue its collaboration with the Liberian government and its partners to complete the remaining sections of this vital corridor. The statement indicated that the inauguration ceremony was attended by President Boakai, a number of ministers and senior officials, as well as representatives of the financing institutions involved in the project.
He stated that the 81-kilometer-long Banga-Salieh road project aims to improve Liberia’s road network, reduce travel time and transportation costs, and enhance access to markets and basic services, thereby contributing to the economic and social development of communities along the road.
He explained that the Fund contributed to financing the project through a loan for which an agreement was signed in 2016, valued at 5 million dinars, as part of a joint financing package involving the Government of the Republic of Liberia, the Arab Bank for Economic Development in Africa, the Saudi Fund for Development, the OPEC Fund for International Development, and the Abu Dhabi Fund for Development. He pointed out that the inauguration ceremony also witnessed the laying of the foundation stone for the 50-kilometer-long Salieh-Konia road project, which forms the second part of the corridor.
He noted that the Kuwait Fund contributed to financing the new project through a loan valued at 4 million dinars. The new project serves as a continuation of the Banga-Salieh road project, contributing to enhanced connectivity between regions and supporting transportation and trade movements within Liberia and with neighboring countries.
