The Liberian Bank for Development and Investment (LBDI) is a

Liberia Liberia, officially the Republic of Liberia, is a country on the West African coast. It is bordered by Sierra Leone to Liberia–Sierra Leone border, its northwest, Guinea to Guinea–Liberia border, its north, Ivory Coast to Ivory Coast–Lib ...

national development bank A national development bank is a development bank created by a country's government that provides financing for the purposes of economic development of the country. Africa * Botswana: National Development Bank of Botswana (NDB Botswana) * Ethiopia ...

that has since 1988 also acted as a

commercial bank A commercial bank is a financial institution that accepts deposits from the public and gives loans for the purposes of consumption and investment to make a profit. It can also refer to a bank or a division of a larger bank that deals with whol ...

. It is headquartered in

Monrovia Monrovia () is the administrative capital city, capital and largest city of Liberia. Founded in 1822, it is located on Cape Mesurado on the Atlantic Ocean, Atlantic coast and as of the 2022 census had 1,761,032 residents, home to 33.5% of Liber ...

and was established by the Liberian government and a number of foreign development companies to help develop the financial infrastructure in Liberia.

History

It was created by an Act of the National Legislature in 1961 under the joint initiative of the Liberian government and major international financial institutions who purchased equity in the Bank, namely:

International Finance Corporation The International Finance Corporation (IFC) is an international financial institution headquartered in Washington, D.C. and a member of the World Bank Group that offers investment, advisory, and asset-management services to encourage private ...

Commonwealth Development Corporation British International Investment plc, (formerly CDC Group plc, Commonwealth Development Corporation, and Colonial Development Corporation) is the development finance institution of the UK government. The Foreign, Commonwealth and Development Off ...

, Capital Partners,

European Investment Bank The European Investment Bank (EIB) is the European Union's investment bank and is owned by the 27 member states. It is the largest multilateral financial institution in the world. The EIB finances and invests both through equity and debt sol ...

, the

Agence française de développement The French Development Agency (, AFD), known from 1992 to 1998 as the Caisse Française de Développement (CFD, ), is a public financial institution that implements France's development and international solidarity policies. It works to fight pov ...

, and Deutsche Investitions-und Entwicklungesllchaft, over 150 private Liberians, other international and local institutions. Foreign shareholding is 44.47% and local shareholding is 55.53%. LBDI is predominantly a privately owned institution under private management and a Board of Directors elected annually by its

Shareholders A shareholder (in the United States often referred to as stockholder) of corporate stock refers to an individual or legal entity (such as another corporation, a body politic, a trust or partnership) that is registered by the corporation as the ...

. The Bank commenced operations in 1965 as Liberian Bank for Industrial Development and Investment. Under an

amendment An amendment is a formal or official change made to a law, contract, constitution, or other legal document. It is based on the verb to amend, which means to change for better. Amendments can add, remove, or update parts of these agreements. They ...

in 1974, the name was changed to the Liberian Bank for Development and Investment (LBDI). A further amendment in 1988 allowed the Bank to engage in

commercial banking A commercial bank is a financial institution that accepts deposits from the public and gives loans for the purposes of consumption and investment to make a profit. It can also refer to a bank or a division of a larger bank that deals with whol ...

activities, to complement its development objectives.

References

External links

Liberian Bank for Development and Investment web site
Economy of Liberia Banks of Liberia Banks established in 1961 {{Liberia-stub