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Liberia news

Ellen projects impact of China’s $60bn

Ellen projects NDPresident Ellen Johnson-Sirleaf says China’s pledge of $60bn to Africa will enable Liberia to access Chinese facilities to continue “infrastructure work primarily” and yet meet its requirement with the International Monetary Fund or IMF.

Addressing reporters on Sunday, 6 December at the Roberts International Airport in Margibi County from South Africa, Mrs. Sirleaf said the agreement means that Liberia can get some financing for roads, airports and industries in trying to diversify the economy to create jobs for the young people.

“We were pleased that the President of China announced that the concessionary element of the facility will be increased that enable us to access loans for roads and other things and yet meet our requirement with the International Monetary Fund,” she said.

The President said the Chinese allocation to Africa which increases from $30bn to $60bn covers the next five years, financing roads, airports and industries, among others.
During the Second Summit of the Forum on China-Africa Cooperation or FOCAC in Johannesburg, South Africa, Madam Sirleafsaid government took the opportunity to meet with some of the Chinese companies [that] will be working with Liberia to try to improve the airport, do some road works and fisheries here.

“We had good meeting with them and I hope to see the results of it in a short period of time,” she said. The FOCAC platform is based on the principles of South-South cooperation and mutual and equal benefit, with a view to addressing various areas of concern for Africa’s socio-economic development and integration. 

These include deepening cooperation in the areas of infrastructure development, debt relief, industrialization, investment promotion, market access expansion, agriculture, science and technology, health, education, and people-to-people cultural exchanges, among others.

By Winston W. Parley-Edited by Jonathan Browne

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