Liberia : LIBERIA $12 million loan agreement with BADEA November 23, 2013 The Liberian government and the Arab Bank for Economic Development in Africa (BADEA) signed a $12 million loan contract for the funding of a power project. According to a government dispatch on 21 November 2013 in Monrovia , the loan contract signed in Kuwait will go towards the funding of the Bushrod Power Generation Expansion Project planned to supply affordable electricity to Liberians. Angela Cassell-Bush , Liberias Deputy Minister of Finance for Expenditure and Debt Management, signed on behalf of the government, while Mr. Abdelaziz Khelef, Director General of BADEA, signed for his institution. Madam Cassell-Bush said the Bushrod Power Generation Expansion Project , goal is to decrease the power deficit in the Liberia and secure reliable power supply to commercial, residential, industrial areas, health centers, schools and other institutions around and in Monrovia . Khelef pointed out that the latest contract is an extension of other relationships that exist between BADEA and Liberia . He revealed that BADEA will work together with the Saudi Fund and the European Investment Bank to fund the rehabilitation project of the Roberts International Airport another important project for President Ellen Johnson-Sirleafs government.
Posted on: Mon, 25 Nov 2013 01:21:49 +0000