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World Bank Executive Directors visit AccessBank Liberia
The head of the World Bank delegation, Mr. Jim Hagan, said his team was in the country to assess the World Bank's performance in Liberia and evaluate how effective the Bank has been in meeting the country's needs. Their visit included meetings with President Ellen Johnson-Sirleaf, cabinet Ministers, Central Bank of Liberia and the country offices of the World Bank. The Executive Directors, together with the IFC country Manager and Director of AccessBank, Ms. Jumoke Jagun, were welcomed at AccessBank by the General Manager, Ms. Mary Clare Odong. Mr. Peter Konopka, the bank’s Credit Manager, joined the group for the meeting which involved discussions around the World Bank’s involvement in AccessBank, the provision of financial services to the lower end of the market, challenges faced by establishing and operating the bank in Liberia, staff capacity, regulatory framework among others. The Directors had the opportunity to meet some of the existing clients of AccessBank who have been granted loans as well as some others who are using the bank’s other banking services such as savings opportunities, safe-keeping of money in current accounts and cheques. The delegation expressed that they were pleased to see the bank was operational and that the results are positive. They thanked the management for their achievement and said that they looked forward to further growth of the bank and provision of access to finance to the Liberian population in order to have an impact on the development of Liberia. Ms. Mary Clare Odong, General Manager/CEO of AccessBank, thanked the team for their visit and applauded their contribution towards the establishment of AccessBank in Liberia. She expressed that the presence of a microfinance-oriented commercial bank in the country has began to empower small businesses and entrepreneurs to view themselves as partners in the economic development of their country through growth of their businesses. Ms. Odong assured the team that AccessBank Liberia was committed towards long-term financial sustainability, outreach, growth, expansion and sound financial management and discipline. AccessBank Liberia is owned by multinational shareholders: AccessHolding AG of Germany- a joint stock holding company, International Finance Corporation (IFC) - the private sector arm of the World Bank Group; African Development Bank- a development bank which aims at promoting economic and social development in Africa; and European Investment Bank - the long-term lending bank of the European Union. |
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