Bishop Donyen Disburses L$1.2m As Micro Loan

By Kingston S. Kolleh
The Bishop of the Independent Catholic Church of Liberia, Bishop Nimely Jackobly Donyen, has disbursed L$ 1.2 million to several marketers as micro-loan.
Beneficiaries of the loan were selected by their leaders from Rehab, Wein as well as Pepperwu Town Markets. Other are, Yinnebo & Dorobo Marketing Associations, including Jleybo and Kalluway Marketing Associations of Montserrado County.
Speaking at the disbursement ceremony over the weekend on the Cheerful Givers Campus in City View, Red Hill Community in Johnsonville, Bishop Donyen said that the loan is intended to help improve the condition of Marketers.
According to him, marketers in the country are in serious need of financial assistance so as to improve their purchasing powers that will enable them acquire more goods because they have huge family responsibilities saying that he believes that the loan is undoubtedly improving conditions of those marketers who benefited from the first loan.
“I have received numerous calls from others marketers expressing their desire to form part of the program,” he disclosed.
He further stated that he and his sponsors abroad have been motivated to continue the program because the first batch of marketers were able to repay the loan in time which has enabled them to increase the second batch of beneficiaries dispelling the notion that Liberians do not pay debts.
The Head of the Independent Catholic of Liberia pointed out that the Rehab and Pepperwu Town Markets needed special treatment and as such, they received L$173, 000 and L$172,000 while the remaining markets received L$171,000 respectively because they have demonstrated honesty by repaying the first loan in time.
The Superintendent of Pepperwu Town Market in Johnsonville, Masu Kanu said the loan has provided great relief for them because some of her colleagues who were only able to purchase a bag of cha coal for sale are now bringing to the market truckloads of the produce while others who could only buy a bag of farina before are now having the financial capacity to purchase more than six bags on the spot.
Superintendent Kanu described the loan as a stimuli package because some of her members were only buying on credit commonly referred to ‘Sell-pay’ while others could put money together before they could buy their goods for sale but all of that have been abolished due to the loan.
She then extend thanks and appreciation to the Bishop and his partners for their humanitarian gesture adding that their conditions are greatly improving on a daily basis as the result of the loan pointing out that the money belongs to them because the interest rate is low (10%) and that they also determine the repayment period.