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US$ 10 Million for Matotoka-Sefadu Road

US$ 10 Million for Matotoka-Sefadu Road

In an effort to further improve the national transportation network thus increasing investment and economic activities in the country, Sierra Leone’s Ambassador to Germany, Jongopie S. Stevens has on behalf of his government,  signed a loan agreement, totalling US$ 10 million with OPEC Fund for International Development, (OFID) in Vienna Tuesday 26.  (Photo: Ambassador Jongopie Stevens and OFID Director General Sulaiman J. Al-Herbish)

The loan will be used for the phase one of the Matotoka-Yiye road, covering a distance of approximately 70km.

In his statement shortly after the signing of the agreement, Ambassador Stevens said OFID has been extremely instrumental in promoting Sierra Leone’s socio-economic well being. He added that the project is an integral part of the National Transport Strategy Investment Plan, (NTSIP) aimed at enhancing the movement of not only the people of Sierra Leone but also goods and services across the country.

Ambassador Stevens and OFID Director signing the loan agreement

He reiterated several other assistance programmes given by OFID, among which he said is the improvement of water and sanitation in the country. According to him, the loan is a direct response to the request made by the Government of Sierra Leone to the African Development Bank in 2006, to finance a feasibility study including a detailed engineering design for the Matotoka-Sefadu road.

He expressed his deepest appreciation to OFID, noting that the request has borne a fruitful result that will benefit the people of Sierra Leone, particularly in Kono District.

OFID Director General, Mr. Sulaiman J. Al-Herbish disclosed that OFID has so far financed fifteen operations in Sierra Leone, adding that another US$ 1 billion has been approved by his organization to improve the energy sector in several countries including Sierra Leone, in line with the Rio+20.

While expressing confidence that the rehabilitation of the Matotoka-Sefadu road will allow the full exploitation of the Sierra Leone’s economic potentials particularly in the Mining and Agriculture sector, Mr. Al-Herbish disclosed OFID’s involvement in discussions for the possible co-financing of the Moyamba Mini Hydro Power Project to increase energy access in Sierra Leone.

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