By Nasratu Kargbo
Sierra Leone’s parliament has ratified a twenty-five dollar loan agreement for the Tikonkoh Kpetemba- Mattru Jong road project between the Government of Sierra Leone and the Arab Bank for Economic Development in Africa (BADEA).
According to the Minister of Finance Sheku Fantamadi Bagura, the agreement which was ratified on the 4th of April 2023 seeks to contribute to the economic development of the local communities in the southern region and the country as a whole.
Speaking on the objective of the project, Bangura said the Tikonkoh Kpetemba- Mattru Jong road project is geared towards facilitating connectivity between those in Tinkonko and Mattru Jong through Kpetemba village.
Bangura explained that the paved roads will improve agricultural activities within the region, noting that it will link the region to the capital Freetown and other parts of the country, and to Liberia’s capital city. He added that it will also attract investors in the sector, by making the area accessible in the different areas of production and that agricultural products such as cassava, and rice amongst others will be easily transported.
The minister noted that the project will enhance the easy movement of people, stating that the expected benefit is that it will reduce the cost and time in transportation.
Bangura said the project is part of the government’s development programmes aimed at developing the transport sector.
Highlighting the features of the road, Bangura said the project will entail the grading of a 72.6-kilometer road length with a carriageway with a width of 7.3 meters, 1.5-meter shoulders, new construction of one bridge, wide sections at town and villages, wide sidewalks, different culverts, and utility diversion.
Speaking on the terms and conditions of the loan, the Minister stated that the road costs twenty-five million dollars from BADEA. He explained that the money will be received in two halves; the first half that will be given is twenty million dollars with an interest rate of 1.5% of the principal amount withdrawn and the second is five million with an interest rate of 2.5%
The minister also introduced another agreement which is the regional rice value chain project, which according to him is to ensure they achieve sustainable development goals that are related to poverty ratification, improving the social and economic condition of poor people amongst others
He explained that the project aims to increase agricultural productivity from 1 ton per hectare to 3 tons per hectare, increase income for farmers and develop rural areas, etc.
In the aspect of the agreement, he said it is a ten million dollar loan with co-financing of the existing twenty-two million from BADEA, which according to him is already been implemented by the Ministry of Agriculture. He said the interest is 1.5% of the principal amount drawn on the outstanding from time to time.
He stated that the country’s staple food is rice and that most of the rice consumed is imported into the nation. He said the project is to enhance rice production in the country.
From constituency 078 Habib Fabbah said good roads link communities and stimulate economic activities and social development. He added that good roads provide access to health care, market, education services, etc.
He added that the payment terms and conditions of the agreement are flexible, adding that 1.5% is good for any nation that yearns to get out of poverty.
Deputy Leader of Government Business Bashiru Silikie called on the minister and the next committee that will be responsible for works to make sure proper monitoring is done on the road and that what is in the agreement is delivered.
He stated that the roads are paid for and it is therefore important that the roads are made to standards.
Speaking on the agricultural agreement, the MP applauded the minister, emphasizing that the country needs such an agreement. He added that the country needs to produce what it consumes.
Opposition Chief Whip Hassan Sesay said infrastructural development leads to economic growth, noting that it facilitates trade amongst regions.
Copyright © 2023 Politico (12/04/23)
