Opec funds Liwonde-Naminga Road construction
The governing board of the Opec Fund for International Development (Ofid) has announced a $6 million (about K1.9 billion) supplementary funding towards the construction of the 25 kilometres Liwonde-Naminga Road.
The board, at its meeting 143rd Session on June 13, approved 17 loans and grants totalling over $234 million to boost socio-economic development in over 44 partner countries.
The majority of the public sector funding will co-finance transportation, energy and water supply and sanitation projects, said a statement the board released on Monday.
The Liwonde-Naminga Road loan will be used to complete the upgrading of the road that serves nearly two million people, said the statement.
“This will enable the year-round transportation of people and goods and help promote trade opportunities,” it reads.
The Liwonde-Naminga Road project involves the rehabilitation and reconstruction of the 25km road at a contract sum of $22.67 million (about K7 billion).
The start date was February 29 2008 and the completion date was February 28 2009. Although the contractor mobilised resources on site and set out the centre line of the road from Liwonde, construction did not take place.
The contractor suspended works because he was not being paid. It was later agreed the contractor be compensated for the
idle time and the work that was done prior to suspension.
