Global Trade Leaders’ Club (GTLC), a promoter of the International Europe Award for Quality Services based in Spain, has honored the Executive Governor of the Central Bank of Liberia, (CBL) Dr. Joseph Mills Jones for his unprecedented support to the Liberian economy. The GTLC is an association of leading businesses comprising more than 7,500 members from 95 different countries in the world, all working in the sectors of services.
The main objective of the Club is to promote trade exchanges and human relationships amongst businessmen and women all over the world, focusing specifically on large, small, and medium-size businesses.
The honoring ceremony took place in the French capital, Paris on Monday, October 28, 2013. The GTLC said it was particularly overwhelmed by the enormous and unprecedented financial and technical support the Liberian economy has received from the CBL, under the governorship of Dr. Jones.
CBL Chief of Staff, Mr. Crayton O. Duncan, flew to the French capital last week to receive the honor on behalf of Governor Jones.
The wordings on the honor presented to Mr. Duncan on behalf of Governor Jones read: “In recognition of your unprecedented, invaluable, committed and dedicated services toward the empowerment of the Liberia people and the strengthening of the Liberian economy through the practical demonstration of your indigenous approach to building Liberia’s economy.”
The GTLC observed that “Liberian businessmen and women have seen a new day. Access to finance is no longer an issue, while acquisition of skills and knowledge through capacity-building are milestone achievements that are accelerating the growth and expansion of Liberian- owned businesses. We must commend you significantly for that,” the organization stressed.
In brief remarks after receiving the honor, Mr. Duncan said the Award was a great honor for Governor Jones and the CBL family, and expressed gratitude to the Global Trade Leaders’ Club for the recognition.
Mr. Duncan told the Club that Governor Jones accepts the honor in the name of the Board of Governors, the Management and staff of the CBL.
Duncan disclosed that the GTLC’s Award to Dr. Jones and the CBL family came as a surprise, especially from an international organization based in Spain.
He assured the GTLC that Governor Jones would love to dedicate the award to the new spirit of Liberian entrepreneurship that is taking roots throughout the country.
Governor Jones has repeatedly stressed in various speeches that “no one, irrespective of geography location, should see poverty as their destiny.” “Poverty,” the Governor has stressed, “is not a badge of honor and that it is not the destiny of the Liberian people.”
The GTLC’s honor came just a few weeks after Dr. Jones received another accolade from the African Global Super Center, LLC in partnership with Cornerstone Consultancy International and African Women Entrepreneurship Group based in the United States, for his invaluable services to Liberia.
Governor Jones, himself, received this honor recently while in the United States attending the International Monetary Fund and the World Bank Group’s Annual Board of Governors Meetings in Washington, D.C.
The CBL boss is being honored for what some key players within the Liberian private sector called “his splendid handling of the economy.”
Governor Jones has ensured a strong banking industry thereby ensuring that all nine banks in the country maintain strong liquidity positions as well as strong internal controls.
After creating a strong banking sector, the CBL boss is now going ahead making available long term financial loans to various sectors of the economy through the banks, according to their specific areas of specialization.
For example, the CBL has made available over US$7 million to the agriculture sector through Afriland Bank, specialized in promoting investments in the agriculture sector.
Dr. Jones has also taken similar actions to bolster the housing sector for poor income earners by making available US$10 million to the Liberian Bank for Development and Investment (LBDI).
LBDI is a development finance bank that promotes investment in real estate and the agriculture sectors, amongst others.
The CBL, under the governorship of Dr. Jones, has also made available US$5 million loan through the banks for Liberian entrepreneurs under the auspices of the Liberia Business Association (LIBA), to help small and medium-sized businesses grow and promote the manufacturing local goods.
The CBL has taken additional steps to promote what it called “economic inclusion” by providing loans to rural market women and men through registered village savings organizations and credit unions, amongst others.
Though some politicians have criticized the CBL’s actions, the Governor believes that the decision is necessary to provide economic empowerment for the Liberian people.
This exercise commenced since 2009, when the CBL disbursed its first loans to the registered village savings associations and credit unions. According the CBL’s repayment report, 100 percent of the monies borrowed in 2009 have been repaid.