Father Donyen Loans L$1.2 Million as Microfinance Loan to Marketers in Mont. County
Paynesville – Several marketers in District #2, Montserrado County over the weekend benefitted from L$1.2 Million microfinance loan to boost their businesses.
The loan scheme is being implemented by 2017 Representative candidate Nimely Jarboklay Donyen, who is currently the Bishop of the Independent Catholic Church of Liberia.
The beneficiaries are expected to pay back in six months with a 10 percent interest rate.
This is the second time the former representative candidate has initiated the loan scheme in the district.
The first phase of the scheme in the district was in June 2019 when over US$700 was loaned out to marketers.
Speaking during the disbursement of the loan, Bishop Donyen said the micro-finance loan is intended to empower the ordinary people and help them earn their living amid the economic hardship in the country.
The loan will also empower marketers in the district to reduce the high rate of economic hardship and poverty, he said.
The Clergyman contested the Montserrado County’s electoral district two seat in the 2017 elections.
“Those we gave the first money to, paid back on time, and people who are giving me the money to help you were happy with the way you paid the first one,” the clergyman-cum-politician said.
“So they told me to keep the money so they can add some to it. This is the money we are giving out today.”
He said the amount for the microfinance loan scheme will increase if those benefitting from the current initiative are “honest in pay back the amount in time to allow others benefit too”.
Meanwhile, he reaffirmed his commitment to empowering residents of the district by providing jobs and education opportunities to its youthful population through his free education tent (FET) program.
Wubu S. Newton, one of the beneficiaries praised Bishop Donyen for the loan and promised to pay back in time to attract more support.
Newton also called on other beneficiaries to be sincere by paying back the loan in order to encourage Bishop Donyen and his partners continue the initiative.
“Since the inception of this loan program, we no longer take sell-pay [credits] before making our businesses, we’re now able to buy any item we want on our tables,” Madam Newton noted.
Also speaking, Susan Yeene explained that the loan program is hugely improving her business.
“Before, when I go out of town, I used to buy only three bags of gari [farina] but since Father Donyen started this loan program, I can now buy six to seven bags of gari and it is really helping my business,” Madam Yeene said.