Finance, Afriland Bank, Ink MOU

first_imgThe Ministry of Finance has taken a major step in an effort to decentralize its treasury functions across the country, particularly in rural Liberia.The Ministry signed a memorandum of understanding(MOU) with a local bank to operate cash centers in two counties.Finance Minister Amara Mohammed Konneh last week disclosed that he had signed the MOU in Monrovia, authorizing the Afriland First Bank to operate the cash centers in River Gee and Grand Kru Counties.According to Minister Konneh, the MOU is part of an overall effort of the government of Liberia—through the Finance Ministry—to expand fiscal operations at the county level, by taking services to grass-root communities, in order to encourage growth and development across the country.The Finance Minister also noted that the MOU exemplifies government’s plan to decentralize some of its treasury functions in the counties, in a bid to improve their capacity for fiscal decentralization as planned.Currently, out of 15 counties, only nine are served by either commercial banks or the Central Bank of Liberia. As a result, the Ministry of Finance charters United Nations (UN) flights on a monthly basis to deliver salaries to government staff working in those areas.To solve this problem, the Finance Ministry has started to construct cash centers in some of the counties. The first step in this direction was taken by President Ellen Johnson Sirleaf in Gbarpolu County. in July last year.The primary objective of the cash center is to enable civil servants conveniently and timely access their salaries, a Finance Ministry statement said. However, the cash centers need to be operated by a professional team; therefore, the offer to the commercial banks to partner with the government in operating the centers for mutual benefits is crucial, as paying civil servants in these areas of employment increase their purchasing power.It was in this light that the Finance Ministry sought the partnership of commercial banks for the provision of cash services and other related banking services in Grand Kru and River Gee Counties. Afriland First Bank, a legally registered banking institution in the country, expressed interest in the cash center activity.Afriland First Bank is a hybrid (deposit-taking and agriculture) banking institution. It is expected that the MOU inked between the Finance Ministry and the Bank will help to empower the local people through the provision of loans and other financial services. The government of Liberia will, this paper has learnt, use the Bank for revenue deposit and will partner with it to foster timely payment of civil servant salaries.Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more

PSG see off Monaco to seal fifth straight League Cup

first_imgKylian Mbappe was a constant menace and perhaps the difference between the two sides, as his current team beat his former club for the second successive final after last year’s 4-1 victory.“Tonight there was a great Kylian on the other side, he was the difference in the game,” said Monaco coach Leonardo Jardim.“I think we played with the right attitude, always tried to look for a goal after the penalty.”The capital club’s win also extended their all-time record amount of League Cup crowns to eight and stretched their winning streak in domestic Cup competitions to 40 matches since a French Cup defeat by Montpellier in January 2014.The holders were awarded a spot-kick after only four minutes, as Polish centre-back Kamil Glik brought down Mbappe.After a three-minute wait for the decision to be confirmed by VAR, Cavani stepped up to beat Subasic and grab his 34th goal of the season.Paris Saint Germain striker Edinson Cavani celebrates after scoring during their French Ligue 3-0 victory over Monaco on March 31, 2018.Monaco responded well and Belgian midfielder Youri Tielemans fired over after some quick build-up play.But PSG doubled their advantage in the 21st minute as Mbappe set Di Maria through on goal with a wonderful pass, and the Argentinian international fired a low shot under goalkeeper Subasic to score for the third League Cup final in a row.Rony Lopes wasted a golden opportunity for Monaco to halve the deficit as he chipped wide with only PSG goalkeeper Kevin Trapp to beat.Just seconds later it was Cavani’s turn to squander a magnificent chance, miskicking off target after Mbappe had laid the ball on a plate for him with the goal gaping.Trapp’s blushes were spared shortly afterwards, as after his error allowed a Radamel Falcao header to drop into the net, VAR ruled the goal out for offside.Jardim’s Monaco put up a much better fight than 12 months ago, and Portuguese winger Lopes came agonisingly close early in the second half when his curling effort flicked the top of the crossbar.Mbappe, who joined PSG from Monaco in a 180-million-euro deal last year, continued to look dangerous but proved wasteful in front of goal as he prodded past the post just two minutes after Subasic had saved at his feet.But the 19-year-old continued to create opportunities, and it was his jinking run which ended with Cavani slotting into the corner.The striker has now scored eight goals in French League Cup finals, after previous doubles in 2014, 2015 and last year.0Shares0000(Visited 2 times, 1 visits today) 0Shares0000Paris Saint Germain players celebrate after winning the French Ligue One with a 3-0 win over Monaco on March 31, 2018.BORDEAUX, France, Apr 1- Paris Saint-Germain claimed their fifth consecutive French League Cup title as an Edinson Cavani double helped them ease to a 3-0 victory over Monaco in Saturday’s final at Bordeaux.The Uruguayan gave PSG an eighth-minute lead from the penalty spot after a lengthy delay for a video assistant referee review, before Angel Di Maria beat Danijel Subasic at his near post to make it two and Cavani completed the scoring late on.last_img read more