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

  • Pakistan’s key highway and bridge connections
    September 28, 2017
    Plans are now being drawn up for a series of projects that will form part of the China-Pakistan Economic Corridor (CPEC). Four road projects worth over US$3.32 billion have been added to the CPEC programme. The Chinese Government is now in agreement with the plans for the CPEC. One of the new roads being built will run from Naukundi, through Mashkel and to Panjgur. The road will join National highway N-40 with CPEC Route N-85, and the Zhob-Kuchlak route. This last link forms part of the Western Corridor CPE
    Read More
  • Pilosio Building Peace Awards event attracts high profile speakers
    November 10, 2015
    Actress Sharon Stone challenged guests at the fifth annual awards in Milan to “build me a school”; they accepted. World Highways was there. What does it take to galvanise people into action to help people in need, especially refugees during a time of conflict – as in Syria now? For some it has been the recent media stories – and distressing images – of the child Aylan Kurdi, a three-year old Syrian refugee whose lifeless body lay face down on a beach in Turkey.
    Read More
  • Road investment benefit for Montenegro
    February 11, 2014
    China's Exim Bank is providing financing worth some €800 million to the Government of Montenegro for a highway project. The loan will be used to pay for work to a section of the Bar-Boljari highway stretch. The work on the Podgorica-Kolasin stretch is due to commence shortly and will be carried out by the Chinese contractor CC International. The Government of Montenegro will borrow some €118 million for capital projects and €240 million for the budget requirements. Of this, €10 million is to be borrowed fro
    Read More
  • Demand is changing in the bitumen market
    August 22, 2013
    The supply and demand for bitumen around the world is changing; refineries, suppliers and contractors must all make changes too - Kristina Smith reports These are interesting times for those supplying and buying bitumen. Almost every part of the picture is in flux: global demand is shifting dramatically; major suppliers are following demand; refineries are closing down or stopping production of bitumen. “In Europe and globally there is a very big chain of events happening,” said Bernd Schmidt, CEO o
    Read More

Highlighted Content