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

  • More financial doubt over proposed Fehmarn Belt Tunnel
    March 17, 2017
    The proposed Fehmarn Belt Tunnel to link Denmark and northern Germany will never be economically viable, according a report commissioned by German ferry operator Scandilines. Revenue and traffic forecasts are unrealistically high, notes the report completed by German consultancy DIW Econ. It is unlikely that the latest cost to build the massive road tunnel, around €7.4 billion, would ever be recovered. The Fehmarn Belt is a strait between the German island of Fehmarn and the Danish island of Lolland. Cur
    Read More
  • Benin road project boosting transport
    September 10, 2021
    A new road project for Benin will help boost transport.
    Read More
  • Seittsa set to take on management of bankrupt Spanish motorways
    July 31, 2017
    The Spanish government has given the green light for the state-owned transport infrastructure firm Seittsa to manage nine bankrupt toll motorways. The deal is for Seittsa to prepare the terms for their retender to private companies by the end of next year. Spanish media report that the cost is set to be lower than the €3.5 billion previously estimated by some analysts. The arrangement comes after three years of failed attempts by the government to step in and facilitate debt restructuring between the invest
    Read More
  • Brazil Tamoio highway and São Sebastião tunnel work
    July 5, 2016
    Brazil’s Tamoio Highway and São Sebastião tunnel construction is of major importance – Mauro Nogarin reports. The modernisation and expansion of Brazil’s Tamoio highway is a major project for Brazil. The project has an estimated cost of $1.5 billion and work on the first section from Planalto was completed in January 2014, costing around $350 million. The project is being managed by the state-owned agency DERSA, which deals with road development. According to the concessionaire for the Tamoios highway p
    Read More

Highlighted Content