CBL Loan scheme launched in Western Liberia
A hundred and six microfinance institutions received a total of $38 million (€28.9 million) as part of a program launched by the Central bank of Liberia.A hundred and six microfinance institutions received a total of $38 million (€28.9 million) as part of a program launched by the Central bank of Liberia.
The CBL Loan Extension Availability Facility (LEAF) has been officially launched in Western Liberia on September 2nd.
CBL's Governor Mills Jones said that the loan scheme being embarked upon by the CBL is meant to get all Liberians to feel the impact of their economy and not one group.
"We have to look especially at those at the lowest end at the income ladder. The aim is to empower all Liberian businesses both big and small", he said, quoted by Heritage newspaper.
He added that the CBL was about to establish rural financial institutions so that inhabitants can easily access loans to develop their businesses. Furthermore, the CBL will work with commercial banks to improve access to finance for rural populations , and beneficiaries will be able to buy shares depending on their financial capability.