Thank you for visiting SNEWPapers!
Sign up free
Jackson Advocate
Jackson, Hinds County, Mississippi
What is this article about?
Liberian government pays $150,000 initial lend-lease installment to US for Monrovia Free Port, costing $20M and opened in 1948; port handles growing African trade but needs expansion.
Clipping
OCR Quality
Full Text
The Liberian Government has recently made the first amortization payment of $150,000 to the United States for lend-lease expenditures in connection with the Free Port of Monrovia. Payment was made by Liberian Ambassador to the United States Clarence L. Simpson.
Construction of the Port cost $20,000,000, which amount will be repaid in full by money earned in operating the Port facilities.
Officially opened in 1948, the Port is one of the most modern on the West Coast of Africa. Its main wharf is 2,000 feet long, and can accommodate four freighters or tank ships at one time. Built to handle about 200,000 tons of cargo a year, there is now need for more space to take care of the ever-increasing imports and exports.
The prompt payment of this amortization is representative of the established policy of the Liberian Government for punctual handling of financial obligations.
What sub-type of article is it?
What keywords are associated?
What entities or persons were involved?
Where did it happen?
Foreign News Details
Primary Location
Monrovia
Event Date
Recently
Key Persons
Outcome
first amortization payment of $150,000
Event Details
The Liberian Government has made the first amortization payment of $150,000 to the United States for lend-lease expenditures related to the Free Port of Monrovia. The port cost $20,000,000 to construct and will be repaid through its operations. Opened in 1948, it features a 2,000-foot wharf accommodating four ships and handles 200,000 tons of cargo annually, with need for expansion due to increasing trade. This payment reflects Liberia's policy of punctual financial obligations.