The Sierra Leone Government has signed a $12 million loan agreement with the Saudi Fund for Development to finance the rehabilitation of Fourah Bay College (FBC) and build new structures to cater for the increasing number of students.
At the signing ceremony in the Conference Hall of the Ministry of Finance yesterday January 28, Dr. Minkailu Bah, the Minister of Education said that those who were in doubt about the implementation of the project should hear about the signing of this loan agreement. The remaining funds needed for the construction aspect of the project was the $12 million and the Saudis have provided the needed fund, he said.
“This has been a very long journey,” Dr. Minkailu Bah said, adding that the project started in 2006 when the proposal was sent to the finance ministry and the architectural drawings have been done, he said.
Signing the agreement of behalf of President Ernest Koroma and the people of Sierra Leone, Minister of Finance, Dr. Kaifala Marah said, “The rehabilitation of Fourah Bay College is strategic in the sense that it will contribute to the enhancement of quality higher education through improving the physical infrastructure of the college, thus creating conducive and safe environment for learning.”
FBC developed considerably due to the demand for higher education but the infrastructural development scheme of the college became stagnated and maintenance culture was compromised drastically due to economic constraints, the outbreak of the rebel war and the Ebola virus disease of 2014, Dr. Marah said.
The loan of US$12 million brings the total amount of loan to Sierra Leone from the SFD to US$33.5 million to fund 5 development projects, Eng. Hassan Mohammed Al-Attas, Director General of the Operations Department of the SFD said.
Friday Januar 29, 2016
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