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

  • Mixed US transportation outlook for 2012 according to ARTBA
    April 26, 2012
    The outlook for the 2012 transportation construction market is mixed, according to the American Road & Transportation Builders Association's (ARTBA). The 2012 Transportation Construction Market forecast from ARTBA shows that the industry will face uncertain times during next year.
    Read More
  • RDIF chief Dimitriev considers Arab partners for Moscow ring road
    October 16, 2014
    Arab partners have been secured as co-investors for construction of the third and fourth phase of Moscow’s Central Ring Road, Russia’s Interfax news agency reported. Kirill Dmitriev, head of the Russian Direct Investment Fund (RDIF), made the announcement earlier this month during a meeting of the State Council's presidium in Novosibirsk, chaired by president Vladimir Putin. Dmitriev did not name the Arab partners but said they “have confirmed their desire” to invest in the third and fourth phases.
    Read More
  • New bitumen technologies and developments around the world
    May 16, 2016
    From expanding bitumen operations in India to groundbreaking mixes in Italy, stronger roads in South Africa to high RAP content in Germany, this month we bring you stories of advancing technology from around the world - Kristina Smith reports Technology from Austrian engineering company Pörner will soon be responsible for almost two-thirds of India’s bitumen production. In December last year Pörner signed the deal with HPCL-Mittal Energy, a joint venture of Hindustan Petroleum Corporation and Mittal Energy
    Read More
  • Ivory Coast tunnel project
    March 30, 2022
    BESIX is working on an Ivory Coast tunnel project.
    Read More

Highlighted Content