ADFD will finance the road project in the troubled African nation.
RELATED ARTICLES: KSA to fund $100m Afghani Islamic centre | Phase II of construction begins at Afghanistan’s Sheikh Zayed City | ADFD finances $10m Ethiopian road
The Abu Dhabi Fund for Development (ADFD) has signed an agreement with the government of war torn Sierra Leone.
ADFD will provide a loan worth $5.44mn 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.
Mr. Koroma 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.
Between 1991 and 2002 the Sierra Leone Civil War devastated the country leaving more than 50,000 people dead, much of the country’s infrastructure destroyed, and over two million people displaced in neighbouring countries.