The
European Union and the Government of Liberia have signed two financial
agreements for projects totaling US$64 million in the key sectors of
electricity, and institutional capacity in aid management. The EU has
also confirmed an additional US$34 million in grant funding as part of
its ongoing budget support programme, according to a press issued by the
EU.
Speaking Monday, February 8, 2016 during
the official signing ceremony at the Ministry of Finance and
Development Planning in Monrovia, the EU Ambassador to Liberia, Madam
Tiina Intelmann, said the EU is committed to working with the Government
of Liberia to deliver the Agenda for Transformation. She noted that in
her recent Annual Message, President Ellen Johnson Sirleaf highlighted
the importance of reliable electricity supply to the country.
Ambassador Intelmann said, “…with the
signing of the Financial Agreement for the Monrovia Electricity Grid
Consolidated Project, the EU together with the Ministry of Lands, Mines
and Energy and the Liberia Electricity Corporation, will be able to take
an important step in making mains electricity a reliable for Monrovia’s
residents and businesses.”
She also confirmed the European Union’s
decision to increase its budget support in response to Liberia’s
request.“The European Union recognizes that Liberia’s public finances
are under severe strain. While this additional support will not prevent
the need for budget cuts, we hope it will contribute to achieving the
government’s agreed objectives under the program: Improved economic
governance; macro-economic stability; provision and accountability of
health, justice and security services, particularly in the light of the
additional costs associated with the preparations of UNMIL drawdown. I
urge the Government to undertake efforts to meet all agreed conditions
and sector indicators, so that all of the foreseen amounts can be paid
into the budget. I also hope that, where necessary, the Legislature will
act swiftly to pass any associated legislation”, the EU envoy stressed.
On behalf of the Government of Liberia,
Finance Minister Amara Konneh thanked the EU for its continuous support,
noting it is good to have cheap electricity in the country because you
have factory hiring more people to do their work, having cheap
electricity, which will help to improve the country.
Minister Konneh said government’s reason
for prioritizing cheap electricity is to create a sixteen-hour economy,
and more, adding “Right now, eight-hour economy productivity is low to
create employment for our people.”
He said when shops and other businesses
can open beyond 4 pm, more people will have jobs. “We want to see
Liberians packed their lunch bags and go to a place called factory to
produce Liberian made products.”
According to the Finance boss, the
Monrovia consolidated projects will support small businesses, and even
households, noting “With this support from the EU, we are going to
target 350,000 households in Monrovia; this is significant; it is a game
changer to our country.”
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