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2012 Annual Conference and the 1st African SPM Conference
from 24/09/2012 to 29/09/2012
Kampala (Uganda)
The Africa Microfinance Network (AFMIN) will organize its 11th Annual Conference
and the 1st African SPM Conference in Kampala, Uganda, from September 24th to 29th, 2012
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Liberia : CBL Launches L$200m Loan Extension Assistance Facility
January 16, 2012
theinquirer.com.lr - The Central Bank of Liberia (CBL) has announced the launching of a Loan Extension Assistance Facility (LEAF) in the amount of L$200,000,000 (Two Hundred Million Liberian Dollars).
According to CBL Executive Governor, Dr. J. Mills Jones, the amount will be provided to Microfinance Institutions, Credit Unions and Village Savings and Loan Associations.
Launching the LEAF yesterday at a local hotel in Monrovia, Dr. Jones noted that the latter is a relatively new program targeting low-income women to help them improve the living conditions of themselves and their families.
The CBL Boss disclosed that the funds that the CBL is making available will be used to provide soft loans to clients who borrow from these institutions.
The CBL Chief Executive said, “We are also launching two innovative schemes; one is a microfinance institution aimed at providing financial services and products to Low-income rural and urban women, or women in the informal sector; the other, is to provide rural populations with tools to help both themselves and the community.”
He further noted that the CBL is doing this in collaboration with Afriland Bank Liberia Limited, which will be largely responsible for implementing these two-scheme programs.
“The Afriland Bank, which has its parent company in the Cameroon, has successfully worked with such small-scale community banking in the Cameroon,” Dr. Jones said.
Governor Jones, notifying representatives of some of the potential users of the loan facility that is being established at the program said, “I want to say to you that when we say that the CBL is a friend of Liberian entrepreneurs we did not only mean those engaged in bigger or more formal businesses; we also meant you the small market business people; etc.”
'I want to assure you that we understand your needs; we understand your motivations; we understand your aspirations. This is a beginning; let us work together to make good things happen. When you borrow, please pay your debts. This will open up opportunities for bigger credits to expand your business,” Governor Jones said.
Speaking at the program some of the potential users of the facility lauded the CBL for the initiative and promised to put same into proper use while ensuring to pay back their loans.
A representative of the Rock Crushers Association of Liberia, Madam Margareta Logan lauded the CBL and its microfinance loan scheme which she said has uplifted her and her family. “Currently I am engaged into other businesses as I usually travel out of the country to procure goods for my business,” she added.
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