Hungary Commits US$50 Million To Liberia

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The President of the Republic, H.E. Dr. George Manneh Weah, has acknowledged with gratitude the approval of US$50 million by the government of Hungary, not only for undertaking investment ventures in Liberia but also for scholarships intended for the young people of Liberia.

   On the margins of the MEDays International Peace Forum in Tangier, the Foreign Minister of Hungary, Peter Szijjarto, paid a courtesy call on President Weah on Friday, November 4, 2022 to announce the good news of his countryโ€™s approval of US$50 million export credit facility for investment in Liberia.

   He also told President Weah that a number of Hungarian investors do have interest to invest in the Liberian health and education sectors. According to him, Hungary is awarding additional 15 scholarships to Liberia, thus increasing the number to 25 annually.

   The Hungarian Foreign Minister thanked Dr. Weah and Liberians for the enhanced relations between Liberia and his country.

   President Weah thanked Ambassador Szijjarto for the interest and commitment expressed by the government and people of Hungary to assist Liberia and improve the diplomatic relationship subsisting between the two countries to nobler heights.

   The Liberian Leader said investment and trade by Hungarian investors in the areas of agriculture, medium-scale manufacturing, green power production, mining and oil and gas are welcome.

   He also called for further cooperation in the areas of youth development and construction of community sports facilities, which are essential and will go a long way in harnessing the already stronger relations between the two countries.

   President Weah has been in the Moroccan city of Tangier attending the 14th Edition of the MEDays Forum in Tangier, Kingdom of Morocco, at the invitation of the King of Morocco, King Mohamed VI.

   The President delivered the keynote address of the forum, at which time, amongst other things, he wooed the international business community to take advantage of Liberiaโ€™s profitable business climate.

   Less than twenty-four hour before the announcement of the US$50 million investment package by Hungary, the President had earlier extracted commitment from Tanger Med Port Authority, one of the biggest port facilities in the world, to transform and refurbish the Port of Greenville, Sinoe County, and provide training and technical support the National Port Authority.

   The 14th Edition of the MEDays Forum brings together over 5,000 participants, including world leaders, creating an opportunity to discuss the main geopolitical, economic and social issues facing the planet, including the war in Ukraine, conflict and instability in Africa, tension in the Indo-Pacific, food and energy crises, inflation and climate change.

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