Kuwait Foundation for the Advancement of Sciences Participates in the Opening of the 'Bangalla-Salieh' Road Project in Liberia
It contributed $5 million to a loan
The Kuwait Fund for Arab Economic Development participated yesterday in the inauguration of the Banga-Slayeh road development project in the Republic of Liberia, as well as in the laying of the foundation stone for the Slayeh-Konia road project. This comes as part of its ongoing efforts to support infrastructure projects and promote sustainable economic and social development in friendly countries.
President of Liberia, Joseph Nyuma Boakai, said in a speech conveyed by a statement from the Fund that these investments build much more than 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.
He 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 speech that the project represents an important milestone in the cooperation journey between the Kuwait Fund, the Government of the Republic of Liberia, and participating financing institutions. He noted that the project reflects the importance of developmental partnerships in implementing projects that serve communities and support sustainable economic and social development.
He mentioned that the project embodies the fruits of this cooperation, reaffirming 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 of Liberia, Joseph Nyuma Boakai, a number of ministers and senior officials, as well as representatives of the financing institutions participating in the project.
It added that the Banga-Slayeh road project, extending over 81 kilometers, aims to improve Liberia’s road network, reduce travel time and transportation costs, and enhance access to markets and essential services, thereby contributing to the economic and social development of communities along the route.
It clarified that the Fund contributed to financing the project through a loan whose agreement was signed in 2016, valued at 5 million Kuwaiti dinars (approximately $16 million USD), as part of a joint financing effort 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 Slayeh-Konia road project, extending 50 kilometers, which constitutes the second part of the corridor.
It was noted that the Fund contributed to financing the project through a loan worth 4 million dinars (approximately 12.87 million dollars). The new project serves as an extension of the Banga–Slayeh road project, thereby enhancing connectivity between regions and supporting transport and commercial exchange within Liberia and with neighboring countries.
It is worth noting that cooperation between the Kuwait Fund for Arab Economic Development and the Republic of Liberia dates back to 1978, when it began supporting the transport sector by financing road projects. To date, the Fund has provided a total of four loans, in addition to one technical assistance grant.
