Hungary Commits US$50 Million Grant to Liberia’s Development initiatives

–-Promises 10 fully funded scholarships annually

Monrovia, Monday, October 7, 2019: The Government of Hungary has committed to providing a 50 Million Grant to the Government of Liberia with additional plans of signing corporation agreements in several sectors.

The commitment comes at the sideline of the 74th session of the United Nations General Assembly where Liberia’s Foreign Minister H.E. Gbehzohngar Milton Findley signed the scholarship agreement on behalf of the Government Liberia while the Minister of Foreign Affairs and Trade of Hungary, Mr. Peter Szijjarto signed on behalf of his country.

According to a Foreign Ministry release, the 50 million grant will be directed towards supporting developments in the Information Communication Technology Sector (ICT) as well as the energy and water sectors.

The Hungarian Government has also committed to providing ten scholarships annually to Liberia beginning September 2020 as part of efforts to assist the Government of Liberia with building the human resource capacity of its citizens abroad.

The Scholarship is expected to be a 100% fully founded scholarship as no fees will be required of benefiting students.

The release furthered, the Hungarian Government is expected to also provide technical and capacity building support in the fisheries sectors and will also initiate other programs aimed at stimulating growth that would further boost the sector.

Meanwhile, the Government of Liberia has been requested by her Hungarian counterpart to open a full Consulate in Budapest, Hungary so as to further strengthen the already cordial bilateral relations subsisting between the two countries.

In a related development, the Governments of Liberia and Iceland have signed an Air Service Agreement for the purpose of establishing international air service between and beyond their respective territories.

The Signing Ceremony took place in New York on the sideline of the 74th Session of UNGA where Liberia’s Foreign Minister Gbehzohngar Milton Findley on behalf of the Liberian Government while Mr. Guolaugue por poroarson, Minister of Foreign Affairs of Iceland, signed on behalf of his country.

The agreement is desire by both countries to promote an international aviation system and to ensure the highest degree of safety and security in international air services reaffirming their grave concern about acts of threats against security of aircrafts which jeopardize the safety of persons or property.

The agreement will also serve as an opportunity to facilitate the expansion of international air service opportunities.

Liberia and Iceland are parties to the Convention on International Civil Aviation opened for Signature at Chicago on 7 December 1944.