Sierra Leone to sign $30 Million Loan Agreement with Chinese Bank

By Abdul Rahman Suagibu –

Sierra Leone Information Minister Mohamed Rado Swaray
Photo Credit: New Africa Business News

NEW AFRICA DAILY NEWS, Freetown, Sierra Leone- The Government of Sierra Leone (GOSL) is at the threshold of signing a $ 30 million concessional loan agreement with a Chinese Export and Import Bank.

Mohamed Rado Swaray- Minister of Information and Communication on Thursday informed journalists at the government weekly news press conference in Freetown that, he personally involved in the negotiation process of the $ 30 million loan agreement with the Chinese Exim Bank. He said that, the loan has an interest rate of 1%. He made furtherance’s in his statement that, they said loan will be geared towards improving on the current status quo of the fiber optic facility to improve on internet connectivity in the countryside for the good of the citizens of Sierra Leone.

Following the landing of the Submarine of the fiber optic cable at the Atlantic Lumley Beach site in Freetown in 2013, with a hub situated at Jui Junction in the outskirt of the Freetown Municipality, it was taken to both the border towns of the Gendema with Liberia and Kambia with Guinea in the East and North of the country, respectively.

Minister Swaray said that, accessing this $ 30 million concessional loan will enable government to extend internet facility to other districts in the country that are yet to enjoy such facility and by so doing, they will connect the fiber cable to all schools, hospitals and local councils.

For New Africa Daily News Abdul Rahman Suagibu Reports,  Africa Correspondent

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