The President of the Republic, H.E. Dr. George Manneh Weah, today, May 25, 2020, participated in panel discussions on post Covid-19 economic recovery strategies in Africa with emphasis on support to private sector development and what countries and leaders can do together to address and mitigate disruption caused by the pandemic to the already struggling African economy.
Sharing his government's experience, the Liberian Leader told his international audience: "Here, we have taken measures to ease the burdens on small vulnerable businesses in the informal sector as well as big businesses."
President Weah divulged that his government had been able to make critical interventions in partnership with commercial banks to provide loans and other financial assistance to businesses as a means of addressing hurdles caused by Covid-19.
The President said his government was on the verge of providing loan assistance to petty traders and other marketers, adding, "We are working with commercial banks to remedy loan payments because the Pandemic has shattered everything."
President Weah asserted that these actions were necessary owing to the fact most businesses lost incomes generation capacities and other people lost their jobs.
The Panel Discussion came about as Africa observed Africa Day on May 24, the founding of the Organization of African Unity, now the African Union.
Other panelists included some of Africa's renowned economists and business leaders as well as US Senator Chris Andrew Coon.
It was organized by the Tony Omelu Foundation and moderated by Mr. Tony Omelu, Chair of the United Bank of Africa (UBA).
President Weah, in his presentation, highlighted efforts employed by his government to strengthen both the formal and informal sectors of the Liberian economy.
He said his government took the responsibility of repaying loans on behalf of citizens because of the enormous stress COVID19 bears on already struggling businesses.