Published: March 27, 2026
MONROVIA – National Road Fund (NRF) Manager Joseta Neufville Wento has called for stronger collaboration between contractors and banks to unlock infrastructure financing, streamline procurement, and accelerate road development, declaring that Liberia can “produce millionaires” if its economy is reclaimed by its citizens.
Wento made the remarks at the close of a three-day Contractors-Banks-NRF Partnership Forum held March 24–26, which brought together key government institutions, construction firms, and financial sector actors to tackle financing and procurement bottlenecks in the country’s infrastructure sector.
Forum Targets Financing Gaps, Procurement Bottlenecks
Held under the theme “Building Roads, Building Trust: Unlocking Procurement Efficiency and Sustainable Infrastructure Financing,” the forum convened about 150 participants, including contractors, engineers, suppliers, procurement officials, commercial banks, development finance institutions, insurers, and sector experts.
The gathering concluded with the establishment of a multi-sectoral working group tasked with developing a strategic roadmap to guide long-term collaboration between contractors and financial institutions—an effort aimed at ensuring sustainable infrastructure delivery.
‘Infrastructure Needs Financing, Not Just Policy’
Speaking at the forum’s climax, Wento stressed that government funding alone is insufficient to meet Liberia’s infrastructure demands, calling for innovative financial partnerships to empower local contractors.
“Infrastructure is the backbone of economic development,” Wento said. “But without reliable financial support and a transparent procurement process, even the most skilled contractors face delays and constraints.”
She added that strengthening ties between banks and contractors will not only fast-track project completion but also create jobs and stimulate economic growth.
Capacity Building, Partnerships Expand Sector Reach
Wento also disclosed ongoing collaboration between the NRF and Road Safety Action International (RSAI) through the Ministry of Transport, noting that the partnership has trained more than 20 safety practitioners over the past two years—the first such initiative in Liberia.
She emphasized the Fund’s commitment to innovation and partnerships aimed at developing a new generation of road sector professionals.
“Over the last three days, we’ve been focusing on sustainable financing, building trust with contractors and banks, procurement challenges, and whether insurance companies are living up to their obligations,” she said. “We can’t solve everything at once, but these issues will be addressed through continuous dialogue.”
‘Support Liberians, Build Liberian Wealth’
Framing infrastructure as a pathway to economic empowerment, Wento expressed confidence that Liberia can produce its own class of millionaires if local businesses are given fair access to opportunities.
“The procurement demands Liberians having 25% of all procurements,” she said. “If Liberians are supported and given the platform, they can do tremendous things.”
She acknowledged persistent structural challenges but said the NRF is prioritizing inclusive dialogue to address what she described as “stubborn problems” within the sector.
Banks, Contractors Pledge Stronger Collaboration
Participants at the forum underscored the importance of bridging the financing gap that often delays infrastructure projects.
Banking representatives committed to designing flexible loan products and financial advisory services tailored to the construction sector.
“We recognize the vital role contractors play in Liberia’s infrastructure development,” said a senior official of the Liberia Bank for Development and Investment. “By working closely with the National Road Fund and contractors, we can provide the right financial tools to accelerate projects and ensure accountability.”
Contractors, for their part, welcomed the initiative, noting that limited access to capital remains a major constraint.
“Often, contractors have the technical expertise but struggle with liquidity,” one participant said. “Forums like this help bridge the gap and encourage long-term partnerships with financial institutions.”
Toward Sustainable Infrastructure Growth
As Liberia intensifies investment in road networks and critical infrastructure, Wento said sustained collaboration among government, private sector actors, and financial institutions will be key to delivering durable results.
“If we align our resources, expertise, and financial support, Liberia can achieve world-class infrastructure that serves all citizens and boosts our economy for generations to come,” she said.
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