IPNews-Monrovia,Liberia-12 May 2018: Former World footballer of the year now President of Liberia, His Excellency George M. Weah has proposed the construction of modernized mini soccer stadiums in seven counties to accelerate and promote the game of soccer in the country.
President disclosure was contained in a communications send to both houses of the National Legislature during Thursday’s sessions.
According to the letter, President George Weah, proposed that the mini-soccer stadiums will be built will be constructed in the capital cities of seven counties.
Those counties proposed are Harper, Maryland County; Barclayville, Grand Kru; Greenville, Sinoe; Cestos, Rivercess: Zwedru, Grand Gedeh; Robertsport, Grand Cape Mount and Bopolu, Gbarpolu County.
The President, made the suggestion when he submitted for ratification a Loan Financing Agreement between Eton Finance PTE Ltd and the Liberian Government value at US$536.4m.
The President’s communication also said the contract of the project shall be constructed by a Joint Venture Consortium (JVC) comprising MAEIL Liberia Construction Company Ltd, a major Chinese Engineering, Procurement and Construction Company; and the subcontractor(s) will be Liberian-owned and operated construction and engineering company(ies), which will be vetted and confirmed by the Ministry of Public Works in respect of their technical capacities.
The loan is payable in fifteen(15) years with 1.46% interest per annual with a seven year interest and principal free grace period.
President Weah said he trusts “that the Legislature will ratify this Agreement which seeks to provide employment, build the sport infrastructure, strengthen and drive the Pro-Poor Agenda for a better Liberia.
Speaking on the justification of acquiring the loan in consonance with the erection of the mini-stadiums, President narrated that the Loan will also finance the Coastal Corridor Connection of County Capitals Road Project, including the construction of the Buchanan-Cestos City-Greenville-Barclayville Road, the Barclayville-Sasstown Road; the Barclayville-Pleebo Road; the Medina-Robertsport Road; and the Tubmanburg-Bopolu Road.
Meanwhile, the Loan Agreement has been sent to the Committees on Ways, Means & Budget and Judiciary to report within two weeks.
