The Inquirer (Monrovia)

28 February 2013

Liberia: LBDI Gives Mortgate Certificates to Several At Matadi

Several Liberians yesterday benefited from Central Bank of Liberia (CBL) sponsored Housing Mortgage Initiative being administered by the Liberia Bank for Development and Investment (LBDI). At an elaborate ceremony held yesterday at the LBDI, several Liberians were certificated for being beneficiaries of the Housing Mortgage Scheme which was launched three months ago by the Central Bank of Liberia. Those who benefited yesterday came from the Matadi Estate.

LBDI President and Chief Executive Officer (CEO) Mr. John B.S. Davies speaking at the ceremony said few months ago since the scheme was launched his institution has been working assiduously to ensure the proper management of the exercise for the benefit of all.

Mr. Davies noted that the certification program is an attestation that the mortgage scheme is strong and alive. He disclosed that the bank has received more than ninety applications and has subsequently approved of forty of those applications while the others are being properly perused.

The LBDI Boss further disclosed that from now to the end of March the bank will expand more than US$2m of the US$10m Housing Mortgage Scheme, saying, " We are dealing with the challenges in the course of the reality."

Mr. Davies said the exercise will not be a Monrovia based one but one that would spread throughout the country for the benefit of all.

The Managing Director of the National Housing Authority (NHA) Mr. Samuel Thompson for his part commended the Executive Governor of the CBL and the Bank's Board of Governors for supporting the housing sector by the initiation of the Housing Mortgage Scheme.

He expressed the cooperation of the NHA and noted that it is a good thing for one to move from being a rental to a house owner.

CBL Executive Governor, Dr. Joseph Mills Jones in remarks, said it is a good example that three months after the launching of the mortgage scheme the LBDI was certificating beneficiaries. He observed that this is a good example of good public private partnership.

Dr. Jones said in furtherance of President Ellen Johnson Sirleaf's agenda to lift the lives of Liberians it is essential to look into the housing sector because providing people with homes can surely lift their lives.

He said in this sector, government is seriously thinking about the civil servants, teachers and nurses, noting that the CBL is willing to play its part and urged others concerned to play their part for the economic growth of the country.

"We have an economy to build and there is no compromise and the Board of Governors of the CBL will continue to work with the NHA, the LBDI in strong manner to achieve the objective of the Housing Mortgage Scheme," the CBL Boss said.

The representative of the beneficiaries of the scheme praised the CBL and the LBDI and urged his colleagues to ensure that the exercise works to benefit others by paying back on the mortgage.

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