MONROVIA, LIBERIA-The European Union has provided an initial budget grant of 6.4 million United States Dollars for Liberia.
The decision followed the approval by the IMF Executive Board of Directors of an IMF-supported program under a 213.6 Million External Credit Facility.
The EU had one-conditioned its budget support is expected today Friday, December 20, 2019.
In a related development, the African Development Bank(ADB) is expected to disburse 4(m) million dollars following documentation of progress made to date on upgrading Liberia’s anti-money laundering framework and law.
The Government of France is also preparing to release its budget support to the Government of Liberia following representation of President George Weah during his visit to Paris, France.
These financial flows will enhance the Liberian Government’s ability to stabilize civil servants salary disbursement by the end of February 2000 and address other fiscal needs when a large budget support from the World Bank is expected to be disbursed.
In another development, the Abu Dhabi Fund for Development (ADFD) has announced a 5 (m) million United States Dollar package in bilateral assistance to enhance social service in Liberia.
The 5(m) million grant will be spent on projects to support the development of modern integrated sports and leisure infrastructure to help mold the minds of young Liberians.
A Ministry of Information Culture and Tourism (MICAT) release issued Thursday, December 19,2019 says the United Arab Emirates development body announced that the scope of the will include the construction of a soccer stadium and a beach volley ball court with support facilities, including car parks and beach as well as board watch protection sites.
According to the release, the announcement was made at the Abu Dhabi Fund for Development Headquarters in Abu Dhabi during the signing of a Memorandum of Understanding.
The gesture by the UAE Authorities is a result of President Weah’s endeavor to scout international support for Liberia’s development with recent visits to that Country.
Meanwhile, the ADFD Director General, Mohammed Saif Al Suwaidi, has expressed excitement over his organization’s support to Liberia.
Mr. Suwaidi said:” The ADFD is pleased to cooperate with the Liberian Government for the first time to support the execution of what he described as a priority social services venture.”
At the signing of the MOU, he noted that through constructing the integrated sports complex in Monrovia, the ADFD aims to drive the implementation of Sustainable Development Goal 3 on good health and wellbeing.
For his part, the Minister of State without Portfolio and Head of the President Delivery Unit,Trokon Kpui, commended the UAE for its continue support to Liberia.
Minister Kpui said:” The project will go a long way in enabling community development, nurturing sporting talent and encouraging residents of the capital and surrounding areas to frequent sports and leisure facilities.”