Gov’t Provides US$1.725M Loan to Boost Rubber Industry

first_imgThe president of the Rubber Planters Association of Liberia, Wilhelmina Mulbah-SiawayThe Government through the Ministry of Finance and Development Planning (MFDP) has made a stimulus package of US$1.725 million loan, equivalent to over three million, two hundred thousand Liberian dollars, to the membership of the Rubber Planters Association of Liberia (RPAL), which is currently being processed through the Liberia Bank for Development and Investment (LBDI).The president of the Rubber Planters Association of Liberia, Wilhelmina Mulbah-Siaway, thanked the government for the loan and suggested that they should work together in maintaining the rubber industry as Liberia’s traditional cash crop commodity.Mulbah-Siaway, who spoke to journalists at a press conference in Monrovia, described the loan as a “stimulus package for struggling rubber farmers and the resuscitation of their production.”According to her, the loan will enhance the industry’s ability to intervene in the foreign exchange market, and to support stability of the exchange rate and boost the country’s economy.The loan, according to Mulbah-Siaway, will be managed by LBDI with an interest rate of eight percent due to be paid in four years.She noted that with this recent intervention and sustained support to this sector, in a relatively short period the Liberia rubber sector will be revitalized and positioned to contribute again to meaningful jobs creation, foreign exchange earnings and GOL revenues.“As the umbrella organization of all rubber farmers and plantations owners in Liberia RPAL wishes to recognize and appreciate the Government of Liberia (GOL) for its continuous support to the rubber sector of Liberia though stimulus funding during this period of sustained decline of rubber price on the global market with double negative impacts on the local market in the country,” the RPAL president said.She said the Government support is consistent with its policy developing the agriculture sector as a major engine of growth and development of the Liberian economy.Madam Mulbah-Siaway said the rubber sector is the pre-eminent provider of revenues for the Government, export earnings and jobs in the rural economy, the Government continues to support the sector by creating an enabling policy environment and initiating stimulus funding to keep the Liberian-owned rubber farms and plantations operational in these difficult times and has also reaffirmed its commitment to transitioning the sector products from sales of raw materials to value addition.She said, “We are gratified to hear President George Weah mentioned in his May 29th, 2019 address to the nation the importance of the rubber sector to the economy and the challenges farmers face to remain in production so as to continue to impact the national economy.”As the president has mentioned the importance of the rubber sector to the national economy, she hopes that the Government will continue to work with the RPAL and all stakeholders in moving the rubber sector to an economically sustainable level.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more

LaMelo Ball, R.J. Hampton bring NBA scouts to Australia

first_imgDuterte calls himself, Go, Cayetano ‘the brightest stars’ in PH politics Don’t miss out on the latest news and information. Matteo Guidicelli had saved up for Sarah G’s ring since 2014? Becoming his own man “We have had a bigger than usual number of requests from NBA teams, who are keen to come down and watch our NBL players,” NBL commissioner Jeremy Loeliger said Tuesday. “This is a fantastic opportunity for the NBL and shows the global interest in the league.”Both teenagers decided to skip college basketball in favor of the NBL, hoping to fast-track their development and improve their positions in the NBA draft.FEATURED STORIESSPORTSGreatest ever?SPORTSBecoming his own manSPORTSFormer PBA import Anthony Grundy passes away at 40Ball had 19 points, 13 rebounds and seven assists for the Illawarra Hawks in a 122-119 overtime win over the Perth Wildcats in his latest game. Playing in his second game for the New Zealand Breakers, Hampton had 20 points, five rebounds, three steals, two assists and two blocks in a 102-95 loss to South East Melbourne.Ball’s brother Lonzo Ball was drafted No. 2 overall by Los Angeles Lakers in 2017 and has since been traded to New Orleans Pelicans. NBA fines Bucks for Antetokounmpo contract comments Trending Articles PLAY LIST 00:50Trending Articles01:43Who are Filipinos rooting for in the NBA Finals?02:25Raptors or Warriors? PBA players take their pick of NBA champ02:11Makabayan bloc defends protesting workers, tells Año to ‘shut up’03:07PH billiards team upbeat about gold medal chances in SEA Games01:38‘Bato’ to be ‘most effective’ CHR head? It’s for public to decide – Gascon02:07Aquino to Filipinos: Stand up vs abuses before you suffer De Lima’s ordeal01:28Ex-President Noynoy Aquino admits contracting pneumonia00:45Aquino agrees with Drilon on SEA games ‘kaldero’ spending issue Canadian vaping study details danger from ‘popcorn lung’ chemical This jewelry designer is also an architect P11-B loan for SEA Games hosting not an issue — Cayetano Sports Related Videospowered by AdSparcRead Next US basketball player Lamelo Ball takes part in his first training session in Prienai, Lithuania, where he will play for the Vytautas club on January 5, 2018. (Photo by Petras Malukas / AFP)SYDNEY — Strong starts to the preseason by American 18-year-olds LaMelo Ball and R.J. Hampton have ramped up the interest in the Australian National Basketball League among NBA scouts.Local media said more than two dozen scouts watched preseason games in Hobart, Tasmania, this weekend, where Ball and Hampton impressed for their respective teams.ADVERTISEMENT DTI creates Marahuyo, a luxe Filipino fashion brand for global buyers MOST READ LATEST STORIES Ethel Booba on SEA Games cauldron: ‘Sulit kung corrupt ang panggatong’ View commentslast_img read more