Urgently needed work to upgrade the runway and address safety at Liberia’s main airport in the capital Monrovia will be backed by Europe’s long-term lending institution, the European Investment Bank, following an agreement signed in Washington DC.
Amara M Konneh, the Liberian Minister for Finance, said: “The European Investment Bank has always been a true partner to the people of Liberia. The airport rehabilitation project is another clear manifestation of that partnership.”
The 20 year US$27.3 million loan for Roberts International Airport was formally agreed on the sidelines of the World Bank IMF meetings in Washington at a ceremony attended by Amara M Konneh, Finance Minister of the Republic of Liberia and Executive Governor of the Central Bank of Liberia W Mills Jones. The occasion also allowed detailed discussion of issues of pressing concern in Liberia, the government’s economic recovery plan and EIB engagement in West Africa.
This is the first European Investment Bank operation with the Liberian Airports Authority and follows recent support for improving electricity generation in Liberia through backing for rehabilitation of the Mount Coffee Hydropower Plant.
The runway work will also include improvements to runway drainage and runway lighting and when complete will allow Robert International Airport to comply with international civil aviation standards. The project is being co-financed with the Saudi Fund for Development and the Arab Bank for Economic Development in Africa.