Sasstown — Grand Kru County Electoral District #2 Representative, Jonathan Fonati Koffa, has launched L$5 million loan scheme for market women in the county.
He disclosed that Doswen and Barforwine Market women in Dorbor Statutory District will on Tuesday, March 24, benefit from an initial loan of one million Liberian dollars.
The Grand Kru District Number Two Representative indicated that the capital distribution is intended to support and advance the government's Pro-poor Agenda for Prosperity and Development by creating opportunities for local market women.
Cllr. Koffa indicated that the loan scheme comes in the wake of the outbreak of the Coronavirus and is intended to give women economic strength and empower them to engage in business.
He said the loan is also in fulfillment of his campaign promise to citizens as part of his commitment to improving the living standard of women of the district.
"During the campaign many of the women groups requested that we invest in a micro finance scheme to enable them to do business in the county. The request from all women groups total 5 million Liberian dollars. As a means of honoring that request and as part of economic stimulus given the current global pandemic, we have paid 1 million Liberian dollars into the fund," he said.
The disclosure was made by the Grand Kru lawmaker in an interview with the Liberia News Agency over the weekend at his residence in Sasstown, Jroal District.
Representative Koffa also said the loan is intended to enable women in the district to compete with women in other districts who are involved in businesses.
"The initial amount will be used as microfinance fund for concern women in Doeswen and Women of Success in Barfowin, both groups in Dorbor District in Grand Kru County. The group will be accountable for the management of the loan scheme but will be supervised by Ahteenah Development Corporation, my local NGO. We will monitor and add other women groups to the program during our Easter break."
Meanwhile, Representative Koffa has cautioned the women of his district not to misuse the loan so that their businesses will grow to enable them meet their needs and wants, and bring pride to his leadership.