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

  • Expectations for growth of UAE infrastucture
    February 9, 2012
    The INTERMAT Middle East event is being launched at a pivotal time of major infrastructure development in the region. As with most sectors, the highways industry has not had a fantastic 18 months in the Gulf. Not only has the recession impacted the delivery of projects across the board, GCC Governments' attention have been switching increasingly to rail, as plans to roll out a Gulf-wide rail system gather steam. GCC countries will invest over US$119.6 billion in infrastructure projects over the next decade
    Read More
  • Funding for Uganda highway project
    November 12, 2018
    Funding has been sourced in the shape of a loan for a key highway project in Uganda. The project is for the upgrading of the 95m route between Kampala and Jinja and a loan of US$229.5 million is being provided. The loan is being provided by the African Development Bank (AfDB). In all however the project is expected to cost $1.5 billion. The expressway is an important route for Uganda and will for part of the route connecting the country with Kenya, running through its capital Nairobi to its port of Mombasa.
    Read More
  • How Florida paved the way for availability payments in the US
    November 21, 2014
    New financing models have been used to deliver key transport links in the US - * Patrick D Harder and Brandon J Davis Florida Department of Transportation’s (FDOT) public-private partnership (PPP) programme has made impressive progress, setting precedents for US transportation planning and funding. On March 26th 2014, FDOT opened 16km of new reversible express lanes as part of its US$1.8 billion I-595 Corridor Roadway Improvements Project. Just a few months later, on August 3rd 2014, FDOT opened twin tunnel
    Read More
  • Cost rises again for Columbia’s unfinished La Linea tunnel
    February 3, 2015
    Columbia’s transport minister has said it will take nearly US$168 million and more than two years to finish the controversial La Linea tunnel. Natalia Abello Vives said the government has a “plan B” to finish the 8.65km tunnel, which, as World Highways reported in May, has less than a kilometre remaining to be constructed. It was originally scheduled to be open by last November. The La Linea tunnel project, or Segundo Centenario tunnel, crosses the central mountain range and forms part of the Bogota-B
    Read More

Highlighted Content