The European Investment Bank (EIB) has agreed to provide Liberia with a US$27.3mn loan facility over 20 years to rehabilitate the Roberts International Airport (RIA)
Pim van Ballekom, vice president of EIB, said, “Upgrading Monrovia’s airport is essential for Liberia and we are pleased to share experience from similar projects elsewhere in Africa.”
According to Ventures Africa, the project will be co-financed with the Saudi Fund for Development and the Arab Bank for Economic Development in Africa. The EIB’s long term loan will help address safety issues and commence the upgradation of the runway.
Local reports stated that the Monrovia-based airport has been in a “deplorable condition”, forcing global carriers like Air France to stop flying to Liberia. Specifically, drainage and lighting are the main areas that require immediate attention. Part of the funds will be used to rebuild the airport’s runway too.
The investment will allow Liberia to rehabilitate and re-brand the airport, ensuring a compliance with international civil aviation standards, added EIB officials.
