The Deputy Minister of Finance and Economic Development, Momodu Kargbo has disclosed in Parliament that construction work on the Kenema-Pendembu road shall start immediately start after the rains.
He presented a Government motion for approval of a loan agreement between Sierra Leone and the Islamic Development Bank for the construction of Kenema-Pendembu road project. He said the construction work costs about $55M and the funding agencies are: the OPEC fund for International Development, Kuwait fund for Arab Economic Development, the Arab Bank and the Saudi Fund for Economic Development.
The deputy Minister stated that the project was divided in to two phases and phase one covers Kenema-Pendembu and the second phase covering from Pendembu-Koindu.
He informed Parliament that on 29th January 2009, Sierra Leones ambassador to Saudi Arabia, Wusu Mona signed with the President of the Islamic Development Bank a loan agreement for the financing of the Kenema- Pendembu road which amounted to $12, 430,000 stating that the loan agreement represented 20% of the total project cost and total funding being $55M.
The principal loan of the amount he said can be harmonized in thirty years including a grace period of ten years commencing from the date of signing the agreement.
Responding to the loan agreement, Hon Sahr Nyuma from Kailahun District said he wanted to see proactive work from Pendembu- Koindu and called for the fast track of the construction. He appealed for the recruitment of the local youths in that axis.
Another MP from Kailahun, Hon Mrs. Alice Foyah referred to Kenema –Koindu as a productive area and disclosed that his people were always cut-off