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Take Charge of Your Economy

The New Dawn Liberia The New Dawn Liberia– CBL Official

The Budget Officer of the Central Bank of Liberia or CBL says the CBL is working assiduously in ensuring that Liberians take charge of the Liberia economy. This, he said, is being done by offering access to finance to Liberian businesses, including construction companies owned by Liberians and the farmers.

Central Bank of Liberia Budget Officer Julius Kerkula noted that this is meant to enable them run their businesses successfully.  

Mr. Kerkula made the statement last weekend at the Kakata Administration Building  in Margibi County when he represented and made a special statement on behalf of the CBL Governor, Dr. J. Mills Jones during  the induction of  Officers-elect of the Margibi Branch of Friends of Mills Jones. 

Speaking further, he said the CBL, under the leadership of Dr. Jones, has offered loans to thousands of Liberians, many of whom who do not know the procedures to benefit from such loans. 

He said the loans were usually given through the Small Medium Enterprises (SME) to the Liberia Business Association or LIBA, adding that only organizations that are registered with LIBA can benefit.

“The SME is done in two phases- SME one and SME two. The SME one has been launched and benefited Liberians a lot, while SME two was currently ongoing with LIBA,” he noted.

He indicated that petite traders can also benefit from the loans, but will have to register with LIBA.

According to Kerkula, LIBA submits the names of potential  beneficiaries to the financial institutions, including banks upon confirmation of business records for verification, following which the names are submitted to the CBL, through its supervision department.     

The CBL Budget Officer added that the Central Bank, upon receipt of applicants, seeks verification from such banking financial institutions regarding applicants ‘qualification or disqualification for  loans.

He also made reference to an Agriculture Loan scheme under the auspices of the CBL, through the Ministry of Agriculture, focusing on agriculture in the country, saying it is in collaboration with the Afri-Land Bank in Monrovia.

By: Ramsey N, Singbeh, Jr. from Margibi

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