United States Ambassador- accredited to Liberia Michael A. McCarthy, has charged the new administration of the Liberia Bank for Development and Investment (LBDI), to renew commitment with transparency and accountability in order to forge ahead in its new positioning to prioritize Digital.
According to the U.S. Ambassador he optimistic that the new LBDI will flip the page of its new positioning by utilizing it’s potential and a new recreation of innovations, noting that it’s always good as an individual or an institution to recreate yourself into a better one, after years from its previous state.
Amb. McCarthy also urged the new administration to embrace trust as the best practices in their operations as new technologies and processes evolve and also commended the management of LBDI for upholding, its values with credibility over the years in its operations.
The commendation and remarks was made when the United States Ambassador-accredited to Liberia paid a courtesy visit to the Banking institution, head office on 9th Streets Sinkor and met with the new President Deo Z. Delaney, and staffers of the Liberia Bank for Development and Investment on Tuesday, 6 September, 2022.
With its new positioning, Liberia’s only development finance institution will finance and administer GOL development finance programs designed to support the growth and stabilization of Liberian industries and provide more lines of credit to small and medium businesses.
The Bank will also provide support to independent business people-market women, gasoline retailers, and keh-keh (tricycle) drivers – entrepreneurs who are working hard to be successful across sectors of the Liberian economy.
Amb. McCarthy, in addition urged the Liberian Bank for Development and Investment to focus on Information Technology (IT) in its new positioning from Mortal to Digital.
At the same time Amb. McCarthy acknowledged the fact that Liberia as a country has the potential to reach the peak, among the commity of nations, but the potential will never be realize until Liberia attract investors from outside.
He said with the new LBDI could be the turning page for the country to attract investors.
In short statement, LBDI new President Deo Z. Delaney, notifies the challenges ahead to its new positioning, but said with strives and collective effort, the Bank is heading for a very new beginning with Digitalization.
As part of the repurposing under the new administration, he noted that the bank has been designated to lead Liberia’s climate initiative. On this note, the Bank will partner with the private and public sectors to support climate change mitigation initiative.
Meanwhile, staffers of the Liberia Bank for Development and Investment, overwhelmedly welcome the US Ambassador and appreciated he for the visit.
LBDI, the country’s largest and only development finance institution, was founded in 1961 by an Act of the Liberian Legislature.
Since 1988, it has also acted as a commercial bank. The bank was led by one its longest post war president and CEO, Mr. John Davies, who stepped down in May after serving his two five-year tenures.
