Miscellaneous

ADFD offers AED 20 mn loan for road project in Sierra Leone

ADFD offers AED 20 mn loan for road project in Sierra Leone
2012-12-10 19:17:47

WAM Abu Dhabi, 10 Dec. 2012 (WAM) — The Abu Dhabi Fund for Development (ADFD) has signed an agreement with the government of Sierra Leone to provide a loan worth AED 20 million for the Toki-Loumi road project which aims to stimulate economic development in Freetown Peninsula The loan agreement was signed in Abu Dhabi by ADFD’s Acting Director General Mohammed Saif Al Suwaidi, and Mr. Edmund Koroma, Sierra Leone’s Financial Secretary of the Ministry of Finance and Economic Development (MOFED).

Al Suwaidi said the project, part of the national infrastructure plan, would connect the capital, Freetown, with other parts of the country and serve diverse sectors like fishing, agriculture and tourism, thus giving a boost to economic growth.

The road will stretch 21 kilometres in length and 7 metres in wide in addition to shoulders each 1.5 metre wide.

Mr. Edmund said the road would help to reduce costs of transport and ease traffic congestion as it will link the capital with the national road network.

He paid tribute to the Government of Abu Dhabi for its sincere efforts to bolster joint cooperation in development sectors. He also commended the effective role ADFD is playing to support development in Sierra Leone.

WAM/TF

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