Finance Minister Amara Konneh has been elected chairman of the Board of Directors of the Liberian Bank for Development and Investment (LBDI). According to a Finance Minister release, Minister Konneh was unanimously elected last Tuesday at the Annual General Meeting (AGM) of shareholders and Board of Directors of LBDI at the Bank?s 9th Street Corporate head office in Sinkor, Monrovia.
He replaces Foreign Minister Augustine Ngafuan, who served the post since 2010. More than 73% of shareholders attended Tuesday?s Meeting. The AGM also occasioned the election of new board members to include Public Works Minister Kofi Woods; National Social Security Welfare Corporation?s Director General Francis Karbah; David Johnson, James S. P. Cooper, Madam Nou Hoff and John B. S. Davies, CEO of LBDI, among others.
A seat on the LBDI Board was, however, reserved for the Economic Community of West African States? (ECOWAS) Bank for Investment and Development (EBID) based in Lome, Togo. According to the release, the new LBDI Board has a mandate to provide strategic direction to the Bank?s management and to ensure that the Bank?s key budgeted deliverables are implemented.
A new comer on the LBDI Board, Minister Konneh, becomes the 23rd Board Chairperson of LDBI since the Bank was founded by an act of Legislature in 1961 under the joint initiative of the Liberian Government and several international financial institutions, including the International Finance Corporation (IFC) that bought equity in the Bank.
His election comes at a time when the LBDI management is seeking to increase its focus on the Bank?s founding objective of development banking. ?We are humbled and honored by the confidence our colleagues have placed in us. We look forward to working with all board members to make LBDI a truly Liberian development bank,? said Chairman Konneh.
LBDI President and Chief Executive Officer (CEO), John B. S. Davies, expressed joy at Konneh?s election, stressing :?I am excited to work with my new boss who happens to
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Source: http://theliberiantimes.com/?p=7022
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