President George Manneh Weah has met in audience with representatives of the Liberia Bankers Association (LBA) at his Foreign Ministry Office in Monrovia. The meeting with the Liberia Bankers Association was triggered by President Weah’s earlier engagement with the leadership of the Liberia Business Association (LIBA).
An Executive Mansion release said, President Weah spoke on Tuesday, February 6, 2018 during a well-attended meeting with representatives of all nine Commercial Banks in the country. He encouraged the representatives of the Liberia Bankers Association to develop constructive and mutually agreeable conversation in order to improve the processes that will be accommodating to Liberian businesses.
The Liberian leader said his government would like to form partnership with the sector to achieve his Agenda for Prosperity and to ensure the market is affordable and reasonable for the Liberian people. President Weah then encouraged the banks to negotiate more in order to encourage borrowers to be able to repay their debts.
He also expressed grave concern on high interest rates on micro-financing and the lack of flexibility to borrowers in repaying their debts. He then prevailed on the banks to look into flexible ways to decrease the high interest rates to borrowers.
In remarks, the representatives of the Liberia Bankers Association expressed profound gratitude for the meeting and congratulated President Weah on his ascendancy to the Presidency. They further noted the overwhelming and resounding victory of December 26, 2017 and pledged their fullest support to ensure his administration succeeds. The Bankers acknowledged that they have a huge role to play in ensuring that the President’s “pro-poor agenda” is successful.