The Bishop of the Independent Catholic Church of Liberia (ICCL), Bishop Nimely Jarbokly Donyen has again given micro loan to marketers in continuation of a loan scheme that is empowering several beneficiaries at various markets in lower Johnsonville, Montserrado County.
Speaking at the Cheerful Givers High School (CGHS) situated on Red Hill, City View Community over the weekend, District # 2, Montserrado County, he applauded the Compassion for Life, an American Non-governmental Organization (NGO) for the assistance that it is rendering to several marketers in the district.
He disclosed that the amount of three million Liberian Dollars was earmarked to have been distributed as micro loan among several marketers who were poised to have been the fifth batch of beneficiaries of the loan saying that the process was not possible due to the acute shortage of the Liberian Banknotes at various banking institutions in the country.
According to him, they were unable to withdraw the amount from their account because the bank notified them that it didn’t have any Liberian currency in its vault, and as the result, he was left with no other alternative but to have distributed US$3,200.00 as loan to some beneficiaries from the Peace City Market; the Pepperwulu Town Market as well as the Dorrobo Marketing Association of Monrovia.
The ICCL Clergyman then lauded the beneficiaries of the loan for their continual commitment to paying back the loan in time and assured them that the process will continue as they remain faithful to the scheme adding that the planned loan will be provided at which time every beneficiary will receive what they deserve.
Responding to the gesture, Madam Sheron Kengbah, Superintendent of Peace City Market, Lower Johnsonville expressed gratitude to Bishop Donyen and Compassion for Life for what she called providing financial empowerment for them which she stated is greatly improving their economic status at various markets in the district.
She said that the shortage of the local currency on the market is negatively impacting their business activities indicating that the financial situation in the country is frustrating as her colleagues and other would-be new entrants of the loan scheme went home disappointed because of the shortage of the Liberian Dollars.
“We can carry the money to the bank and when we pay the full amount, Bishop in return gives the money back to us but we are down-hearted today because we are unable to execute our business plans,” she lamented.
Superintendent Kengbah then urged financial actors in the economy to work out the necessary modalities so that they can be able to withdraw their monies from the bank as new applicants for the loan are eagerly awaiting to form part of the program.
Solomon Nyensoirwah, President, Dorrobo Marketing Association of Monrovia also appreciated the Clergyman and the Compassion for Life for their commitment to lifting them from poverty to a comfortable status in the Liberian Society through the micro-loan scheme including other support that they have been receiving from the entity relative to health and nutrition.
President Nyensorwah attested that the loan is actually empowering beneficiaries and according to him, some of the marketers have changed their businesses while others are now able to purchase goods on large scale and others are now adequately contributing toward the provision of their family needs in terms food, education as well as medication among others.