The Micro-finance Department of the Central Bank of Liberia (CBL) has extended a loan of L$1 million to two credit unions in District # 2 in Grand Bassa County.
The credit unions, known as “Have Your Say” and “New Generation Savings and Credit Union,” received L$500,000 each, according to the Liberia News Agency correspondent in Grand Bassa County.
Presenting the checks to the two institutions at the district’s civil compound on Monday, CBL Loan Coordinator for Grand Bassa County, James Brooks, said the loan is intended to empower citizens to engage in business.
“The loan is intended to help elevate you, your children and the entire district from poverty,” Brooks told the recipients.
Receiving the loans, officials of the two credit unions thanked the Central Bank for the loan and promised that the money would be used for the intended purpose.