The United States Ambassador to Liberia, Michael A. McCarthy, yesterday paid an hour-long go to to the Liberian Bank for Development and Investment (LBDI), the place he met with the brand new president & CEO, Deo Delaney and his senior govt crew.
The three govt officers are the Deputy CEO and General Manager, Mark Akwenah Nyeamene; the Corporate Secretary, Regina Elliott and the Acting CFO and Comptroller, J. Wilbert Thomas II.
Before taking a tour of the financial institution’s ninth road workplace in Sinkor, in a 10-minute speech to the workers gathered within the banking corridor, Mr. McCarthy mentioned, “It’s wonderful to see LBDI re-embrace its role as a development bank because that is what this country needs long-term development; a part of attracting those investors is creating greater trust in the financial markets in Liberia.”
Mr. McCarthy acknowledged, “When you prove your governance structures and digitize and make it more standardized to outsiders, you’re making this a more favorable environment and it will take significant foreign investment to change the economic outlook in Liberia and LBDI could play a leading role in attracting new investors.”
Mr. McCarthy mentioned he finds LBDI’s need to be concerned in local weather financing particularly thrilling stating, “Climate finance is really important for all of us around the world. If you can get financial benefits for the resources you have, you are not only helping the world, but you are also helping Liberia as well.”
“LBDI could be the beginning of turning the corner and changing the environment. You could be the ones who begin to attract foreign investors and that is critical,” Mr. McCarthy mentioned.
McCarthy continued, “It makes us excited that we have a partner in the economy who has one of the same goals that we have. We’re convinced that with the new team and the new outlook you’re going to do great things.”
Meanwhile, Mr. Delaney thanked Mr. McCarthy for his confidence and thanked him for visiting the financial institution stressing, “I cannot overstate how much it means for us to have Ambassador McCarthy visit with us today at LBDI. Please join me in welcoming him and the head of USAID, Mr. Jim Wright.”
Mr. Delaney says as he works to reorganize the financial institution and reset priorities, a go to from McCarthy, who he known as a pal, is “not just symbolic.”
“Now that the Government of Liberia has named LBDI a key driver of economic growth in Liberia, we hope the Ambassador’s presence here at our bank is the first phase of an enduring relationship that will be strengthened by LBDI’s renewed commitment to transparency, good corporate governance, accountability and all the interests we have in common,” Mr. Delaney added.
In April, LBDI’s Board of Directors employed Mr. Delaney, 37, to guide Liberia’s solely Development Finance Institution.
LBDI, the county’s largest and solely growth finance establishment, was created by an Act of the National Legislature in 1961 and since 1988, it has operated as a industrial financial institution established by the Liberian authorities and several other overseas growth corporations to assist develop the monetary infrastructure in Liberia.
LBDI was established beneath the joint initiative of the Liberian authorities and main worldwide monetary establishments that bought fairness within the Bank.
LBDI is predominantly a privately owned establishment beneath personal administration and a Board of Directors elected yearly by its shareholders.
The financial institution commenced operations in 1965 because the Liberian Bank for Industrial Development and Investment. Under an modification in 1974, the identify was modified to the Liberian Bank for Development and Investment.
For promoting, media relations and music promotion, take a look at the next:
