- Search Results
 
 
CBL Determined To Alleviate Economic Crisis- Jones
Date Uploaded: Jun 08, 2015

 Central Bank Governor Mills Jones

 

 

CBL Determined To Alleviate Economic Crisis- Jones

By Wellington G Patrick, LINA Nimba County Correspondent

SANNIQUELLIE, June 8 (LINA) – Central Bank Governor Mills Jones has maintained that the Bank will design strategies to reduce poverty, break economic barriers facing Liberian firms and redirect the national investment sector in the care of Liberians.

Governor Jones named few of the strategies as training, building technical and financial capacities of Liberian firms through grants and loans to prepare them for competitions, describing the step taken by the CBL as an internationally-accepted practice.

 The CBL Governor made the statement at the official dedication of the Rural Community Finance Institution-II (RCFI-2 Bank) in Sanniquellie over the weekend. 

“The CBL has just begun trusting Liberian firms; we will continue to give loans to Liberian businesses in order to change the Liberian business sector; the Liberian people must take hold of their own business sector,” Dr. Jones stressed.

He pointed out that the CBL’s loan scheme is a result of a baseline survey it conducted which shows that Liberian farmers, businesses, entrepreneurs, companies and cooperatives have little national investment opportunities coupled with no capital for regional transactions therefore the institution is under obligation to make sure that such economic constraints are resolved.

He further explained that the survey also shows that Liberian businesses are stagnated due to high interest rate and short-term of loan payment imposed by commercial banks which makes it difficult for young firms to boost their market system.

However, Governor Jones described claims by critics that the institution is dishing out the country’s wealth with political undertone as” complete nonsense” and urged detractors to desist from ridiculing the institution.

latest headlines
LNFS Craves More Support To Mitigate Fire Outbreaks
The Liberia National Fire Service (LNFS), has called for more capacity building training, empowerment and logistics to help mitigate fire outbrea ...more
‘Women Will Vote Those Who Champion Their Cause’ - Solanke
The Executive Director of Community Healthcare, Naomi Solanke, has cautioned that women will only support aspirants who will champion their cause ...more
Gender Official Vouches For Post-Ellen Platform
An Assistant Minister at the Ministry of Gender, Children and Social Protection is calling for the setting up of a platform for the post-Ellen er ...more
“CBE Model Successful,” Monrovia City Mayor
The Mayor of the Monrovia City Corporation (MCC), Clara Doe Mvogo, says the Community-Based Enterprise (CBE) model has been successful in the mun ...more
NGO Shares Global Youth Service Day With Nimba Orphans
Over 150 orphans of the House of Hope Orphanage in Ganta, Nimba County have had a different taste of the observance of Global Youth Services Day ...more
Urbanization Critical for Liberia's Development - Leon
The Program Manager of the Cities Alliance in Liberia says urbanization is critical to the development of cities in the country in the future. ...more
 
All rights reserved © 2013 - 2014
Liberia News Agency