Liberia: Central bank opens rural financial center
Dr. Jones and Senator Jewel Howard Taylor at the dedication program
The executive governor of the Central Bank of Liberia (CBL), Dr. J. Mills Jones, has admonished Liberians to stand up for what they believe can lift and rescue them from the scourge of poverty.
He wants Liberians to realistically reflect on their current situation and design a way that will take them to where they want to go.
He, however, noted that “this cannot happen by empty promises or deceitful reasoning.”
Governor Jones made the call at a ceremony marking the dedication of the Totota Rural Community Finance Institution in Totota City in Bong County on Wednesday. The institution, which is the first in the history of Totota, will run full banking operations as well as support farmers and businesses through the granting of loan.
In response to concerns about a violation for the CBL to directly give out loans to citizens, Governor Jones said: “This is not breaking any law but rather doing what the CBL is mandated to do.”
He emphasized that Liberia cannot be developed through begging or offers from foreign partners, but through hard work.
“Countries we see developed today were like us but their citizens worked hard in ensuring that their countries are brought to where they are today,” Governor Jones indicated.
He said for one to take ownership of the bank is to pay back all loans received and also deposit all moneys at the bank.
She also extolled the Village Savings and Loan program of the CBL which, she said, has impacted the lives of thousands of Bong County inhabitants.
The occasion was attended by chiefs, elders, and women groups, officials of the CBL and Afriland First Bank and other citizens.
