Announcement of Four Million Seven Hundred Thousand US Dollars Loan to Liberia for Second Power Project on June 24, 1971

lNTERf'~_ATlONAL 8/\~H< F()f1 .RECONSTRUCTI 1818 H STREET, N.W., WASHINGTON D. C. 20433 TELEPHONE: EXECUTIVE 3-6360 Bank Press Release No. 71/56 Subject: $4.7 million loan to Liberia June 24, 19 71 for second power project A $4. 7 million loan to help Liberia meet el.ectric power demand has been approved by the World Bank. It is the second loan to the Public Utilities Authority (PUA) and, like the first, is an integral part of the 1971-74 development program. The present project is a continuation of the first and is intended to increase generating capacity, to rehabilitate the dist::ribution sys tern ·and provide se~rl.ce to new areas. It will help meet forecast power demand which has grown on average at about 22% annually over the past six years, and thus sustain economic development ::.n the project area. • The project includes installation of a fourth, 17-megawatt hydro- electric generating unit at Mowt Coffee, northeast of Monrovia; c.onstruction of a new substation; expansion of an existing substation; and rehabilitatlon of th~~ main substation at Bushrod. Approximately 100 mile.s of distribution lines, 1,000 transformers and 4,500 service connections will be installed. In addition, the 2.4 kilovolt distribution system presently in operation in Monrovia will be converted to 12.5 kilovolt and consultant services provided to assist in project implementation. The Bank loan is being made to PUA (Monrovia, Liberia) and_ .is guaranteed by the Republic of Liberia. It is for a term of 19 years, including a fotl~· year grace period, at 7'!r.% interest and will cover the external costs of th..? estimated $6.4 million project. Procurement will be on the basis of international competitive bidding except for the generating unit, for which provisional bids were made under procurement for the first project. - 0 - •