House Ratifies US$20M Loan for Gbarnga-Salayea Road

first_imgPartial view of lawmakers approving a loan agreement for the reconstruction of the highway between Gbarnga and Salayea.Members of the House of Representatives have ratified the Loan Agreement signed between the Saudi Fund for Development (SFD) and the Republic of Liberia for the construction of the Gbarnga (Bong County) – Salayea (Lofa County) road.The loan is seventy-five million (75,000,000) Saudi Riyals, which is equivalent to US$20 million.The Lawmakers approved the financial deal yesterday according to a report from the Joint Committee of Ways, Means, Finance and Development Planning, Foreign Affairs and Judiciary.The project, upon its completion, will provide expanded road connectivity to rural parts of the country and will boost Liberia’s development agenda by stimulating economic activities through easy access of goods and services. It will also facilitate the free movement of people across the country.The Liberian government has agreed to secure a loan of US$12 million from the Arab Bank for Development in Africa (BADEA), and has already received US$15.5 million from the Kuwait Fund for Arab Economic Development; US$20m from the OPEC Fund and US$15 million from the Abu Dhabi Fund, according to the report from the joint Committee.In a letter requesting the House to ratify the Loan Agreement, President Ellen Johnson Sirleaf said the loan is critical and aims to develop an existing gravel/length road of approximately 81km length with a width of 7.5 million that connects Bong and Lofa counties, as well as improve accessibility and reduce travel costs for residents of the affected counties.The Government of Liberia shall pay interest at the rate of one percent (1%) per annum on the principle amount of the loan withdrawn and outstanding. Interest and other charges shall be paid semi-annually, according to the Agreement.The term of the loan is 30 years, including a 10-year grace period. The government will repay the principal amount of the loan in accordance with Amortization Schedule set forth in Schedule No.3 to the Agreement.The Agreement is in support of the government’s overall development agenda, the President said.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more

Americans observe Veterans Day

first_img Trevino, who worked for the Veterans Administration and in Los Angeles County’s veterans affairs office before retirement, served in the U.S. Air Force from 1973 to 1975. This Veterans Day took on extra significance because it was the first since the death of his grandfather, Rudy Alex Westley, a World War II veteran who fought in Europe with Gen. George S. Patton’s army, Trevino said. World War II veterans like his grandfather played a big role in making the United States what it is today, Trevino added. “The World War II veterans, that’s the generation that did so much for our nation,” he said. But not everyone was upbeat Friday. Ruben Trejo, commander of Disabled American Veterans Chapter 39, departed from his prepared speech to read a message from a national DAV official who said that federal budgets for veterans services have failed in recent years to keep up with inflation. Thousands of veterans have been denied access to Veterans Administration facilities because of budget shortfalls, and proposals to reduce or restrict veterans services are common, Trejo said. “They shouldn’t have to fight their own government after fighting our nation’s enemies,” Trejo said. Charles F. Bostwick, (661) 267-5742 [email protected] 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! PALMDALE – Bugle calls, prayers and 21-gun salutes recognized American veterans in ceremonies at Lancaster and Palmdale cemeteries. At Palmdale’s Desert Lawn Memorial Park, Veterans Day speakers urged the audience to pray for American military personnel and their families and to encourage elected officials to support veterans not just in words but in actions. “Our veterans past and present should be honored not just today but every day,” said Henry Weaver, governor of the Palmdale Moose Lodge. Veterans and civic leaders also spoke Friday at ceremonies at Lancaster Cemetery and at Joshua Memorial Park in Lancaster. AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREWalnut’s Malik Khouzam voted Southern California Boys Athlete of the Week After the Desert Lawn ceremony, the Palmdale Veterans Color Guard assembled again at the nearby Palmdale Cemetery to fire a rifle salute over graves dating back to the 1880s, including those of a number of veterans. The Palmdale ceremonies drew Cub Scouts, veterans and family. Among the veterans was 87-year-old Pat Murray, a woman Marine who was a parachute rigger during World War II. She placed a commemorative wreath during the ceremony. “This is a day to honor all the veterans who served and are serving our country,” said Bobby Breech, commander of American Legion Post 348 in Palmdale. Other veterans were in the audience. “I try to make it every year,” said Tony Trevino, a disabled veteran watching the Desert Lawn ceremony. last_img read more