Diaconia MDI in Liberia signs agreement with The World Bank
In competition with other financial institutions in Liberia, Alliance Microfinance’s bank Diaconia MDI has been selected to receive a loan from The World Bank.
We are proud to announce that the World Bank through the Government of Liberia has assigned Diaconia MDI in Liberia it’s first commercial loan. Through the assessment process, Diaconia MDI has been selected as one of seven among 30 financial institutions in Liberia subject to receive a loan from The World Bank. The Ministry of Finance and Development Planning will oversee the reporting and performance in Diaconia MDI in collaboration with the Central Bank of Liberia.
Even though we have chosen a more conservative credit policy during the unpredictable election period in the autumn of 2017, we will continue to grow our loan portfolio as soon as we find it appropriate.
We are very proud to have signed this agreement as it is a testimony to the quality of our staff, institution and operations. Growth costs and the loan from The World Bank is necessary capital for us to continue our operations. The funds will be used to support our continuous growth of loans to underprivileged people in Liberia. We believe in enterprising people and their businesses as a vehicle for poverty reduction and a better life. This funding will enable us to continue our mission of poverty alleviation in Liberia.
Rune A. Øygard
Chairman of the Board
Diaconia MDI – Liberia