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21 August 2018

Liberia considers more World Bank funding amid caution

First published15/08/2018

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 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.

Companies in this article

African Development Bank
www.afdb.org
International Monetary Fund
www.IMF.org
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