KFAED, S. Leone ink loan deal

KD 6 mln for road project

KUWAIT CITY, May 24: A loan agreement was signed today in Lusaka, Republic of Zambia, during the African Development Bank 2016 Annual Meetings, between the Republic of Sierra Leone and Kuwait Fund for Arab Economic Development, whereby the Fund shall make a loan of Kuwaiti dinars six million (KD 6,000,000) (i.e. about US$ 20 million) to help finance of the Hillside Road Project “Phase II” in the Republic of Sierra Leone.

The Loan Agreement was signed on behalf of the Republic of Sierra Leone by Batrick Coneh, Minister of Finance and on behalf of Kuwait Fund for Arab Economic Development by Hesham Al-Waqayan, Deputy DirectorGeneral of Kuwait Fund in attendance of Thamer Al-Failakawi, Regional Manager for West African countries at the Fund.

The project aims at enhancing the economic and social development of the Republic of Sierra Leone through the construction of Phase II of Hillside Road Project, which connects the east, and west sides of the Capital.

The project consists of the construction of an asphalt-concrete road of 2.25 km long, a doubled 2-lane carriageway with a width of 7.3 m for each lane, and a provision of a 2 m wide median and corridors of 1.5 m, 3 m wide for pedestrians and bicycles respectively.

The project consists of the following main components, site preparation, demolition of properties, utilities reallocation, earthworks, concrete works for retaining walls, construction of water culverts drains and environmental protection works, pavement works including sub-base, base and asphalt-concrete layers, traffic furniture and road marking, consultancy services for the supervision of construction, institutional support for the implementing unit as well as land acquisition.