Vienna, Austria – The Government of Liberia, through the Ministry of Finance and Development Planning (MFDP), has signed a US$30 million Loan Agreement with the Arab Bank for Economic Development in Africa (BADEA) to finance the upgrading of the Salayea–Konia Road, a critical segment of the Gbarnga–Mendikorma Highway that connects Liberia’s northwestern region to major economic corridors.
The agreement was signed today (June 23, 2026) in Vienna, Austria, on the sidelines of the OPEC Fund Development Forum and 50th Anniversary celebrations.
Finance and Development Planning Minister Augustine Kpehe Ngafuan signed on behalf of the Government of Liberia, while BADEA President Abdullah Almusabeeh signed on behalf of the Arab Bank for Economic Development in Africa.
The US$30 million financing will support the construction and upgrading of the Salayea–Konia road corridor, a strategic infrastructure project expected to improve connectivity between Bong and Lofa Counties, reduce transportation costs, facilitate trade, and enhance access to essential services for thousands of Liberians living in rural communities.
Speaking at the signing ceremony, Minister Ngafuan expressed gratitude to BADEA for its continued commitment to Liberia’s development agenda, noting that the agreement reflects the strong and growing partnership between Liberia and the Arab development institution.
“On behalf of President Joseph Nyuma Boakai and the Government and people of Liberia, I extend sincere appreciation to BADEA for this significant investment in our nation’s infrastructure. This financing demonstrates confidence in Liberia’s development trajectory and will have a transformative impact on communities across Bong and Lofa Counties,” Minister Ngafuan said.
The Finance Minister emphasized that the Salayea–Konia Road forms part of the Government’s broader vision to modernize critical infrastructure and unlock economic opportunities throughout northwestern Liberia. He noted that, together with financing from the Kuwait Fund for Arab Economic Development (KFAED), the Saudi Fund for Development (SFD), and the OPEC Fund, the project represents one of the most ambitious road development initiatives undertaken in the region.
The project is expected to stimulate economic growth by improving the movement of agricultural goods from Liberia’s productive farming areas, attracting private investment, creating employment opportunities, and strengthening regional trade linkages with neighboring Sierra Leone and Guinea under the framework of the Mano River Union.
Minister Ngafuan reaffirmed the Government’s commitment to ensuring the timely ratification and implementation of the agreement, stressing that Liberia is prepared to move swiftly from financing to construction.
Beyond roads, BADEA is currently exploring additional financing opportunities in Liberia’s energy, water, sanitation, and health sectors. Discussions are ongoing regarding potential support for the Botota–Mendikorma Electrification Project, water supply systems in Ganta, Buchanan and Kakata, sewage rehabilitation in Montserrado County, and other priority development interventions.
During discussions that preceded the signing ceremony, Finance Minister Ngafuan also followed up on President Boakai's invitation to the BADEA President and delegation to visit Liberia along with other Arab financiers during Liberia's 179th independence anniversary celebrations in July 2026 for the dedication of the Gbarnga-Salayea Road Project (81 kilometers) jointly financed by BADEA and other Arab lenders; and officially launch the Salayea-Konia- Voinjama leg of this critical road infrastructure project.
In response BADEA President H.E. Abdullah Almusabeeh extended heartfelt thanks and appreciation to President Joseph Boakai for the invitation and assured that he is making plans to visit Liberia in July for the dedication of the completed pavement of the Gbarnga-Salayea road and the launch of the Salayea-Konia-Voinjama leg of the road to which BADEA is committing a financing package of US$30 million.