HomeAbout LiberiaEngineering Society of Liberia President Says Contractors, Financial Institutions Relationship is Undermined...

Engineering Society of Liberia President Says Contractors, Financial Institutions Relationship is Undermined by Systemic Issues…

MONTSERRADO COUNTY-Efforts to strengthen Liberia’s infrastructure development have come under renewed scrutiny, with concerns raised over poor planning, weak financing structures, and contract management challenges affecting road projects.

Speaking at a stakeholders’ forum, the President of the Engineering Society of Liberia highlighted that the relationship between contractors and financial institutions is being undermined by systemic issues beyond their control. According to him, contractors often struggle to repay bank loans not due to incompetence, but because of delays and inconsistencies in government contractual obligations.

He pointed out that decisions surrounding road construction projects are sometimes politically influenced rather than guided by economic value and national development priorities.

He stressed that roads should be treated as critical drivers of economic growth and social inclusion, requiring strategic investment and long-term planning.

The Engineering Society President further raised concerns about over-commitment in project financing, noting that contracts are frequently awarded beyond available budgetary capacity, placing contractors in difficult financial positions when payments are delayed.

He also emphasized the lack of proper supervision and quality assurance in road construction, revealing that in some cases, contractors are hired before consultants are engaged, leaving projects without adequate oversight.

According to him, these gaps not only affect project quality but also damage the credibility of contractors within the banking system, often labeling them as unreliable despite circumstances beyond their control.

He is calling for open dialogue among stakeholders to address these challenges and reform the system to ensure sustainable financing, strategic planning, and improved accountability in Liberia’s infrastructure sector.

 

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Hot this week

Witness Protection Agency Condemns Media Houses, Private Individuals Disclosing Whistleblowers’ Identities…

MONROVIA, LIBERIA-𝑇𝘩𝑒 𝑊𝘪𝑡𝘯𝑒𝘴𝑠 𝑃𝘳𝑜𝘵𝑒𝘤𝑡𝘪𝑜𝘯 𝘈𝑔𝘦𝑛𝘤𝑦 (𝘞𝑃𝘈) ℎ𝘦𝑟𝘦𝑏𝘺 𝘤𝑜𝘯𝑑𝘦𝑚ns what...

First Lady Katumu Boakai Breaks Ground for New Maternal Hospital in Paynesville…….

MONROVIA, LIBERIA- First Lady Katumu Boakai has broken ground...

Liberia secure 16.7million AfDB Loan to Boost Fiscal Sustainability….

MONROVIA, LIBERIA- The African Development Bank (AfDB) and the...

CSA Announces 2026 Retirement Exercise for Public Servant…….

MONROVIA, LIBERIA- The Civil Service Agency (CSA) has disclosed...

President Joseph Boakai Joins African Leaders in Ghana for Reparatory Justice Conference…….

President Joseph Boakai has joined other African Leaders at...

Related Articles

Popular Categories