Cummings to Give Out US$60,000 in Microfinance Loan

Monrovia – Alexander Cummings of the Alternative National Congress (ANC) has chosen to give gift on his birthday rather than receive gift as it is usually done.

Report by Henry Karmo – [email protected]

He on Tuesday announced to the media that he would be providing US$60,000 as microfinance loan for women empowerment.

According to the ANC political leader, his loan scheme is non-political and said the program would be sustained even after elections. He also assured Liberians that one doesn’t have to be his supporter to benefit from the loan program.

“Symbolically I want to say on my 60^th birthday I want to give back to our people particularly focusing on women. We are here today to announce that we will be giving US$60,000 in micro financing women-owned businesses as empowerment to them.

“Women are considered the bedrock of every society. Financing credit is a major engine of private sector growth and job creation around the world. “

“We have heard the request made by people as we travel around the country the need to for microfinance loan and today announcement is in response to those requests,” Cummings said.

He expressed how passionate he felt about the program and hoped to see it as either small or big way that will begin to help people.

The loan program will be implemented by Standard Trust microfinance, Liberian microfinance organization.

“The process will be as simple as none of the other process you have seen before with a very low interest fees and it will be available at market places.”

“Beneficiaries will receive basic training in finance management. We will work with community leaders and existing market leaders.

‘There will be no litmus test it is not a political initiative so you will not be asked whether or not you support Cummings.”

“It will cover other counties and not just a Monrovia program we hope that in two or three years from now will be big and will help more and more people,” Cummings stated.