Liberia government signs finance deal for infrastructure work
17 August 2011
Liberia could see an improvement to its infrastructure as its government has signed an agreement with the African Development Bank (AfDB) for extra financing.
It agreed to two $56 million (£33.80 million) grants to be used for infrastructure maintenance in public works and to improve financial management.
Liberian finance minister Augustine Kpehe Ngafuan signed the contract with operations of infrastructure, private sector and regional integration vice-president of the AfDB Bobby Pittman.
The AfDB confirmed that the money will go towards maintaining roads, improving activities in the public works ministry and to encourage women and young people to help with infrastructure maintenance.
This fund also aims to boost economic growth by giving support to Liberia's financial governance.
Earlier this month, the AfDB approved financing for another project in the continent.
It revealed it will spend $40 million on the Rift Valley Railways scheme in order to improve transport infrastructure between Uganda and Kenya.