As people face difficulties to secure capital to do business due to lack of collateral coupled high interest rate, the Bishop of the Independent Catholic Church of Liberia (ICCL), Bishop Nimely Jarbokly Donyen has given Ls$600,000 plus US$1,100.00 to several marketers in the Township of Johnsonville.
Beneficiaries of this loan which is the continuation of the loan scheme for marketers doing business in District # 2, Montserrado County are, Pepper Wlue Town, Peace City, Up Town, and Kpelleh Town Junction Markets.
Speaking on the Cheerful Givers High School (CGHS)’s Campus on Red Hill, City View Community over the weekend, Bishop Donyen praised God who he said has inspired Compassion for Life based in America for funding the loan scheme reiterating that the shortage of the Liberian Banknotes at banking institutions is posing hindrance for beneficiaries of the loan to receive huge sum of money in recent times.
According to him, because of that obstacle few marketers got US$3,200 last week which was against their initial plan adding, that L$600,000 along with US$1,100.00 was on hand for four markets.
The markets that benefited from this latest loan were, Pepper Wlu Town, Peace City, Up Town and Kpelleh Town Conjunction Markets.
He then lauded the beneficiaries of the loan for being committed to paying back the loan and promised that it will continue.
Responding to the humanitarian initiatives, the superintendents of various markets, Ma Sue Kanu, Pepper Wlu Town, Cecelia Kortee, Up Town, Sheron Kengbah, Peace City Markets and others extolled the partnership existing between Bishop Donyen and the Compassion for Life for funding the loan scheme which they said is helping them to do business in the country.
The indicated that the shortage of the local currency in the country is denying most of their colleagues to get the loan as 15 markets should have benefited.
It can be recalled that the loan scheme was initiated in March 2019 by the Clergyman and since then several markets have been benefiting like Rehab, Pepper Wlu Town, Palm Bush Markets; others are, Kpelleh Town Junction, Mount Barclay, Kpainwin Community Markets Including Karluway, Dorrobo, Jleypo, Yinnenbo Districts Marketing Associations of Monrovia just to mention few beneficiaries. Before the economic crisis, markets used to receive L$350,000; US$250,000; US$200,000 among others dependent on the size of the markets.