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

  • Key highway upgrades for Ukraine will be funded by a World Bank loan
    October 19, 2012
    External funding will pay for maintenance and safety upgrades on Ukraine’s road network. A deal was struck between Ukraine’s state highway agency Ukravtodor and the World Bank for a loan to cover the necessary work. The US$450 million loan will provide the financing required for Ukraine’s Federal programme of road improvements. Surface quality and safety upgrades will be carried out on a series of major road links, with the Kiev - Kharkov highway section between Lubny and Poltava having been identified as a
    Read More
  • Copy of New Midtown Tunnel open in Virginia
    January 30, 2017
    A project to construct the second Midtown Tunnel link in the US state of Virginia alongside the original connection has taken an important step forward – Mike Woof writes Commuters in the US state of Virginia will be pleased that the new Midtown Tunnel is now open to traffic, as it will help to boost capacity and cut congestion on the busy US 58 route connecting Norfolk and Portsmouth. The 1.13km tunnel link has been built to link with the interchange at Brambleton Avenue and Hampton Boulevard in Norfolk
    Read More
  • New Midtown Tunnel open in Virginia
    January 30, 2017
    A project to construct the second Midtown Tunnel link in the US state of Virginia alongside the original connection has taken an important step forward – Mike Woof writes Commuters in the US state of Virginia will be pleased that the new Midtown Tunnel is now open to traffic, as it will help to boost capacity and cut congestion on the busy US 58 route connecting Norfolk and Portsmouth. The 1.13km tunnel link has been built to link with the interchange at Brambleton Avenue and Hampton Boulevard in Norfolk
    Read More
  • High demand for German-made construction machinery
    February 14, 2018
    The German construction equipment industry is in the middle of a boom, according to data from the country’s equipment manufacturing body, the VDMA. A new report highlights that turnover and incoming orders saw a double-digit increase in 2017 and Germany manufacturers are starting 2018 with a high degree of optimism. According to the VDMA figures, the German construction equipment industry ended 2017 with turnover of €10.8 billion– an increase of 15% compared to the previous year. It is the fourth
    Read More

Highlighted Content