Liberia considers more World Bank funding amid caution

Liberia is considering a World Bank offer of a US$500 million loan for more road projects, according media reports. Information Minister Eugene Nagbe said the government is also talking to the International Monetary Fund (IMF) and the African Development Bank as part of plans to use the loan for highway construction. Nagbe reportedly said, however, that representatives of the US, China and other development partners have cautioned the government over increased borrowing for major projects. Building and
August 15, 2018 Read time: 1 min

Liberia is considering a World Bank offer of a US$500 million loan for more road projects, according media reports.

Information Minister Eugene Nagbe said the government is also talking to the 3684 International Monetary Fund (IMF) and the 1586 African Development Bank as part of plans to use the loan for highway construction.

Nagbe reportedly said, however, that representatives of the US, China and other development partners have cautioned the government over increased borrowing for major projects.

Building and maintaining roads in Liberia is fraught with major difficulties, according to many analysts, not least due to heavy rains, lack of maintenance, overloaded trucks and the long rainy season which can last up to eight months.

Finance & Funding

For more information on companies in this article

Related Content

  • Caterpillar eyes better performance in 2015 amid stormy weather
    May 13, 2015
    Caterpillar vice president Paolo Fellin sums up the past year for the global equipment manufacturer and looks at the increasing importance of telematics and machine control. David Arminas reports from Caterpillar’s Demonstration and Learning Centre in Malaga, southern Spain First the good news. Despite the difficulties, especially of the financial markets, 2014 was “a record year for a lot of things” for global heavy equipment maker Caterpillar.Now the bad news. Hang onto your seats because despite some
    Read More
  • VDMA reports steady German equipment sector
    February 14, 2013
    Steady financial performance is claimed for the German equipment producers in 2012, according to the manufacturing association VDMA. The German construction equipment and building material machinery industry generated €12.5 billion in turnover during 2012 according to the latest results. Of this, construction equipment accounted for €7.9 billion, while €4.6 billion of business came from the building material, glass and ceramics machinery sector. This is a nominal decrease of around 1% compared to 2011. Afte
    Read More
  • Malawian city Zomba gets solar street lights
    March 9, 2018
    Zomba has become the first city in Malawi to install solar powered street lights, according to local media. The 261 solar powered street lights are going to cover the city’s boundary along the M3 road for around 7km. City authorities said they have responded to concerns about the possibility of poor lighting from the solar luminaries during the rainy season which can be long with continuous heavy cloud. The move is part of a strategy to reduce dependency on hydropower which is in short supply and can be
    Read More
  • Progression with Bangladesh elevated highway
    June 8, 2016
    Plans are in hand for a radical new 225km raised highway to connect Bangladeshi capital Dhaka with the city of Chittagong. An elevated highway design is required due to the low-lying terrain along the country’s coast where the highway would run, as the area is prone to frequent flooding. However raising the roadway is also boosting the cost of the project substantially. The work is likely to cost in the region of US$8.91 billion according to estimates. As a result, the Bangladesh Government is having had to
    Read More

Highlighted Content