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Liberia’s Weah signs ETON financing, EBOMAF loan agreement into law

Liberia President George Manneh Weah has signed into law the ETON Finance PLT Limited and EBOMAF Loan Agreements recently passed by both the House of Representatives and the Senate.At the signing ceremony held at his Ministry of Foreign Affairs office in Monrovia Thursday, President Weah lauded members of the 54th Legislature for ratifying the loans.

President Weah noted that the signing into law of the two loan agreements will enable his administration to immediately embark upon infrastructure projects that are intended to improve the living conditions of ordinary Liberians.

The Liberian leader pointed out that he intends to ensure that by the end of his term in office he would have connected all of the 15 counties’ capitals of Liberia by paved “All-weather” roads” stressing “This is the promise I made to the Liberian people, a pledge I intend to keep.”

President Weah believes that the new road network will not only enhance economic growth and development but will also provide easy access to health, education, employment, agriculture and other opportunities that will improve the wellbeing of the citizens.

He emphasized that the roads, when completed, will ensure a more socially cohesive and united population, where our citizens will be able to travel and interact with one another more easily through dialogue, which enhance peace, understanding and tolerance.

“The construction of these roads is the centerpiece of our Pro-Poor Agenda which ultimate objective is to lift Liberians from poverty. This is my commitment, focus, legacy and permanent and perpetual
inheritance that I will leave behind when my tenure in office is over and to generations yet unborn,” President Weah accentuated.

In remarks at the ceremony, the President of EBOMAF Group, Bonkoungou Mohamoudou, assured President Weah that Liberia will get the 337 kilometers of well constructed roads as enshrined in the agreement.

The EBOMAF Chief Executive noted that his company will do all it can to ensure that President Weah’s mandate is fully upheld and implemented.

The Vice President of the Bong Mine Pier on Bushrod Island, Jeong ho Kim, who represented ETON Financing, assured President Weah of the company’s commitment to source the funding to build a quality coastal road that will meet international standards.

It can be recalled that the Government of Liberia, recently signed two separate financing agreements with ETON Finance PTE Limited and EBOMAF SA in the amounts of US$ 536.4 million and US$ 420.8  million respectively for the implementation of major road projects across the country.

The two loan agreements were overwhelmingly ratified by the Legislature and forwarded to President Weah to sign into law, which was officially done today at his Foreign Ministry office.

The project will also see the pavement of the Buchanan to Cestos road; Cestos to Greenville road; Greenville to Barclayville road; and the Barclayville to Pleebo road. The project will also see the pavement of the Tubmanburg to Bopolu and the Medina to Robertsport road corridors.

The EBOMAF SA Financing Agreement will now see the construction of the Kessely Boulevard to Sinkor Road and the Tappita to Zwedru road corridor, including the Toe Town to La Cote D’Ivoire and the Zwedru to Greenville road corridors.

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