- 21 Nov
VICE PRESIDENT BOAKAI UNDERSCORES THE IMPORTANCE OF AN INCLUSIVE FINANCIAL SECTOR BECAUSE IT CREATES JOBS AND BOLSTERS ECONOMIC TRANSFORMATION
Monrovia, November 18, 2016- Vice President Joseph N. Boakai says Liberia’s financial sector is a major linchpin for growth and development because it plays a key role in promoting the five pillars of the Government’s agenda for transformation, especially the pillar on economic transformation.
Vice President Boakai said an inclusive financial sector that promotes access, use and availability of financial services to all, ensures the environment wherein people have jobs, bolsters economic transformation through enhanced agriculture production and food security.
He said an inclusive financial sector enables people to generate sufficient income to meet basic household needs, such as education and healthcare and empowers women and the youth to invest in income generating activities and become more financially independent.
Vice President Boakai was speaking Friday at the Monrovia City Hall, when he serve as keynote speaker and launcher at the official launching program of Liberia’s Financial sector development Implementation plan, the FSDIP.
According to the Vice President, “today marks a significant day in the Liberian financial system Eco-space where stakeholders from the public and private sectors as well as our development partners and citizens have gathered and consented in principle on the need to reform the financial system landscape.
This reform the Vice President said has to encompass banks, financial institutions, non-banking financial institutions, non-bank service institutions, pension fund institutions and other specialized financial institutions.