MONROVIA Jan 18 Following some turbulent financial years, which were mainly triggered by COVID-19, the New World Finance institution has assured its investors of resuscitating the entity soon.

"The Management of NEW WORLD FINANCE wishes to extend her heartfelt thanks and appreciation to all her investors for the patience they have exercised over the years," the release from management said late Thursday.

New World Finance is a private financial institute that is focused on issuing small loans to both individuals and institutes. But has been facing some financial challenges in the loan recovery process, a situation which is not unique to it. It was licensed by the Central Bank of Liberia to carry out financial activities.

The statement said, "Since the covid outbreak business, went very Bad and slow. We have been working very hard to recover our loans that went bad thus, affecting our entire operations. Although the process has not been as fast as we hope, we have been making frantic efforts to recover and do the needful."

It regrets the slowness in recovering the loans even though its legal team has taken numerous steps aimed at fast recovery

"Please remain assured that our legal team is working assiduously to collect outstanding loans," it said.

"We also seize this opportunity to encourage all delinquent borrowers to settle their obligations to the institution as we are in the process of seeking permission to publish the names of delinquent borrowers in addition to other legal actions that are currently ongoing. We look forward to a productive 2024," management concluded.