The African Development Bank on Thursday in Tunis approved two grants and a loan amounting to USD 34.08 million to finance the rehabilitation of the Masiaka-Sefadu road project in the northeast of Sierra Leone, according to a release from the Bank.
The road to the country’s diamond-rich Kono district has been in a decrepit state for years and despite repeated promises by successive governments, it has not been fixed leading to the soaring of prices of commodities.
The AfDB funding consists of over USD 18 million as grant from the Fragile States Facility, USD 10.56-million ADF grant and USD 4.93-million ADF loan. The OPEC Fund for International Development and the Sierra Leone government will contribute the remaining amount for the project estimated to cost USD 46 million.
The Bank also approved a loan of USD 216.87 million to finance phase two of Tanzania’s Road Sector Support Project covering 390 kilometers in the eastern and southern parts of the country.
