MONROVIA: President George Weah has launched a three million United States dollars micro finance loan scheme for small Liberian holder businesses in the country.
Report By Varney Dukuly_favorduke7@gmail.com
Speaking Wednesday in Monrovia the Chief Executive described the loan as pro-poor.
The loan which is expected to be channeled through the Liberia Bank for Development and Investment (LBDI)will focus on small Liberian businesses in the fifteen counties of Liberia.
According to him the interest rate attached is the lowest ever in the country’s loan history.
The Liberian leader promised to use the people of Liberia’s money for their own well-being.
“When I was playing active football, I used my money on you the Liberian people. Now that I am President, I will also use the Country’s resources to empower citizens, including the free tuition policy, and other development programs.
I remain committed to build major roads that will connect marketers to Monrovia, especially those in hard to reach areas”
Receiving the check from the President, Commerce and Industry Minister Prof. Wilson Tarpeh said the loan is as a result of the President steadfast advised that private sector is keen to sustainable economic growth.
He then assured the President that the loan will be used for its intended purpose.
Minister Tarpeh maintains the need for improvement in Liberian Businesses for a stable Country economy.
Despite the loan scheme, there is a reported decline in the Country’s economy as Citizens continue to experience increase in the exchange rate between the Liberian dollars and the United States Dollars.
President earlier announced $25 Million US Dollars which is said to have been infused into the Economy as excess liquidity; but, citizens especially business people are yet to realized the impact of said amount.
