Africa News Liberia: President Weah Launches US$3 Million Microfinance Loan for...

Liberia: President Weah Launches US$3 Million Microfinance Loan for Small Businesses

-

- Advertisment -

MONROVIA – President George Weah says he will without fear’or favor use Liberian money to develop the country and its people. He made the comments Wednesday, December 19, 2018 when he launched a three million United States dollars microfinance loan scheme for small businesses.

Report by Henry Karmo, [email protected]

President Weah through the Liberia Bank for Development and Investment (LBDDI) announced that giving microfinance loans to small Liberian businesses across the country at a very low interest payback rate of 6% and flexible collateral and an extended payback time is something that is close to his heart.

Related Posts

“This loan program is one that is close to my heart. As President of Liberia, I will work to ensure that Liberian-owned businesses will not be marginalized. I promise that my government will prioritize the interest of local businesses because my desire is to support local businesses from the sidewalk to the stores.”

President Weah also encouraged local businesses to benefit from the loan to payback on time to enable them take more loans.

Also making remarks, Minister Wilson Tarpeh of the Ministry of Commerce and Industry said, the launch of the microfinance loan scheme is a fulfillment of a promise made by the President to support local Liberian businesses and expressed hope that the government brings in more money to the project.

For his part, Mr. John B. Davis President Liberia Bank for Development and Investment said, the launch of the loan scheme, demonstrates the sowing of seed of partnership between the Bank and the Government of Liberia to ensure small businesses receive the necessary support to grow and expand.

The loan, according to the Bank’s president, will impact the small businesses in Liberia in the area of trade, service, agriculture and transport, amongst others.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest news

Kiir hails Egypt’s efforts to back South Sudan’s stability

CAIRO – 23 October 2019: South Sudan’s President Salva Kiir on Wednesday praised Egypt’s efforts to back stability in...

Exclusive to ET : The first photo to Katy Perry in Egypt

CAIRO – 23 October 2019: Famed American star Katy Perry is currently in Egypt, where she visited a number...

Alerte / Mustapha Bendjama, journaliste du Provincial arrêté par des agents en civil à Annaba

Le journaliste du Provincial et modérateur de la page Facebook, Algérie Debout,  Mustapha Bendjama a été arrêté cet après-midi...

Samsung, UAE funds lead $55m investment in quantum startup

US quantum computing startup IonQ said yesterday it raised $55 million in a funding round that was led by...

Poet José Luiz Tavares presents book “Arder a Vida Inteira” in Praia

Praia, Oct 23 (Inforpress) – The poet José Luiz Tavares presented Tuesday in the capital of the country, his...

Education et technologie : lancement à Conakry de la 3è édition d’Africa Code Week

La troisième édition d’Afrca Code Week (ACW) a été lancée ce mercredi 23 octobre 2019, au lycée 2 octobre...

Must read

Kiir hails Egypt’s efforts to back South Sudan’s stability

CAIRO – 23 October 2019: South Sudan’s President Salva...

Exclusive to ET : The first photo to Katy Perry in Egypt

CAIRO – 23 October 2019: Famed American star Katy...
- Advertisement -

You might also likeRELATED
Recommended to you