{"id":22788,"date":"2022-09-07T15:10:00","date_gmt":"2022-09-07T15:10:00","guid":{"rendered":"https:\/\/www.africa-press.net\/liberia\/all-news\/u-s-ambassador-mccarthy-urges-lbdi-bank-to-attract-more-investors-to-liberia"},"modified":"2022-09-07T15:10:00","modified_gmt":"2022-09-07T15:10:00","slug":"u-s-ambassador-mccarthy-urges-lbdi-bank-to-attract-more-investors-to-liberia","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/liberia\/all-news\/u-s-ambassador-mccarthy-urges-lbdi-bank-to-attract-more-investors-to-liberia","title":{"rendered":"U.S. Ambassador McCarthy Urges LBDI Bank to Attract More Investors to Liberia"},"content":{"rendered":"

Africa-Press – Liberia. <\/strong><\/span>The United States Ambassador to Liberia, Michael McCarthy on Tuesday paid a visit to Mr. Deo Delaney, the new President & CEO of the Liberian Bank for Development and Investment (LBDI).<\/p>\n

Mr. McCarthy said it will take significant foreign investment to change the economic outlook in Liberia and LBDI could play a leading role in attracting new investors.<\/p>\n

\u201cLBDI could be the beginning of turning the corner and changing the environment,\u201d said McCarthy.<\/p>\n

\u201cYou could be the ones who begin to attract foreign investors. And that is critical,\u201d Mr. McCarthy said.<\/p>\n

\u201cIt makes us excited that we have a partner in the economy who has one of the same goals that we have,\u201d McCarthy continued.<\/p>\n

\u201cWe\u2019re convinced that with the new team and the new outlook you\u2019re going to do great things.\u201d<\/p>\n

Mr. Delaney thanked Mr. McCarthy for his vote of confidence and thanked him for visiting the bank.<\/p>\n

\u201cI cannot overstate how much it means for us to have Ambassador McCarthy visit with us today at LBDI. Please join me in welcoming him and the head of USAID, Mr. Jim Wright,\u201d Mr. Delaney told staffers gathered in LBDI\u2019s banking hall.<\/p>\n

In April, LBDI\u2019s Board of Directors hired Mr. Delaney, 37, to lead Liberia\u2019s only Development Finance Institution.<\/p>\n

During his hour-long visit, Mr. McCarthy met with Mr. Delaney and LBDI\u2019s senior executive team before taking a tour of the bank\u2019s 9th street office in Sinkor.<\/p>\n

Besides Mr. Delaney, LBDI\u2019s three other executive officers are Mark Akwenah Nyeamene, Deputy CEO and General Manager; Regina Elliott, Corporate Secretary; and J. Wilbert Thomas II, Acting CFO and Comptroller.<\/p>\n

In a 10-minute speech to the bank\u2019s staff, Mr. McCarthy said \u201cIt\u2019s wonderful to see LBDI re-embrace\u201d its role as a development bank.\u201d<\/p>\n

\u201cBecause that\u2019s what this country needs long-term development. A part of attracting those investors is creating greater trust in the financial markets in Liberia,\u201d said Mr. McCarthy. \u201cWhen you prove your governance structures, and digitize, and make it more standardized to outsiders, you\u2019re making this a more favorable environment.\u201d<\/p>\n

Mr. McCarthy says he finds LBDI\u2019s desire to be involved in climate financing especially exciting.<\/p>\n

\u201cClimate finance is really important for all of us around the world. If you can get financial benefits for the resources you have, you are not only helping the world, but you are also helping Liberia as well.<\/p>\n

Mr. Delaney says as he works to reorganize the bank and reset priorities, a visit from McCarthy, who he called a friend, is \u201cnot just symbolic.\u201d<\/p>\n

\u201cNow that the Government of Liberia has named LBDI a key driver of economic growth in Liberia, we hope the Ambassador\u2019s presence here at our bank is the first phase of an enduring relationship that will be strengthened by LBDI\u2019s renewed commitment to transparency, good corporate governance, accountability and all the interests we have in common,\u201d Mr. Delaney added.<\/p>\n

The Liberian Bank for Development and Investment (LBDI), the county\u2019s largest and only development finance institution, was created by an Act of the National Legislature in 1961.<\/p>\n

Since 1988, it has also acted as a commercial bank.<\/p>\n

The bank was established by the Liberian government and several foreign development companies to help develop the financial infrastructure in Liberia.<\/p>\n

LBDI was established under the joint initiative of the Liberian government and major international financial institutions that purchased equity in the Bank.<\/p>\n

LBDI is predominantly a privately owned institution under private management and a Board of Directors elected annually by its shareholders. The bank commenced operations in 1965 as the Liberian Bank for Industrial Development and Investment. Under an amendment in 1974, the name was changed to the Liberian Bank for Development and Investment.<\/p>\n

For More News And Analysis About Liberia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Liberia. The United States Ambassador to Liberia, Michael McCarthy on Tuesday paid a visit to Mr. Deo Delaney, the new President & CEO of the Liberian Bank for Development and Investment (LBDI). Mr. McCarthy said it will take significant foreign investment to change the economic outlook in Liberia and LBDI could play a […]<\/p>\n","protected":false},"author":84,"featured_media":22787,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[233,237,234],"class_list":["post-22788","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-liberia","tag-liberia"],"yoast_head":"\nU.S. Ambassador McCarthy Urges LBDI Bank to Attract More Investors to Liberia - Liberia<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/liberia\/all-news\/u-s-ambassador-mccarthy-urges-lbdi-bank-to-attract-more-investors-to-liberia\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"U.S. Ambassador McCarthy Urges LBDI Bank to Attract More Investors to Liberia\" \/>\n<meta property=\"og:description\" content=\"Africa-Press – Liberia. The United States Ambassador to Liberia, Michael McCarthy on Tuesday paid a visit to Mr. Deo Delaney, the new President & CEO of the Liberian Bank for Development and Investment (LBDI). 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