The President of the Liberia Bank for Development and Investment (LBDI), Francis Dennis, says institutional support system is essential in strengthening the Small and Medium Enterprise (SME) sector in the country.  Mr. Dennis said under the institutional support system a strong policy will be developed to guide the Small and Medium Enterprise (SME) in its operation, and make the SME a vibrant sector in Liberia.Mr. Dennis said the institutional support system will also put the SME in the position of empowerment that would lead to the employment of more Liberians in that sector. He said this system will enable other Banking Institutions in the country to build credit in loaning money out to Small and Medium Enterprise, as the institutional support system will be the guide to the loan givers and the SME that is receiving the money.

Speaking recently at the First Quarterly Business Dinner of the Liberia Business Association (LIBA), held at the Corina Hotel in Sinkor, suburb of Monrovia, Mr. Dennis said LBDI will continue to collaborate with LIBA to ensure Liberia's SME is empowered to compete with foreign businesses. The LBDI president praised some Liberian entrepreneurs for organizing LIBA as an umbrella organization that is championing the cause of Liberian businesses but needs the strong political support that will protect it.  During LIBA's First Quarterly Business Dinner for this year, Mr. Dennis spoke on the topic the: “Growth and strategy of the Small and Medium Enterprise, the Role of the Liberia Bank for Development andInvestment (LBDI)”.  Also speaking, the President of the Liberia Business Association (LIBA), Sam Mitchell, said the entity is seeking for a Banking Institution in Liberia that will partner with LIBA to fully support the Small and Medium Enterprise sector (SME) which is struggling to survive. He said that sector is facing neglect. 

Mr. Mitchell named some of SME's that is neglected as the Agriculture, Transportation, and Housing among others, and called for these areas to be given more attention by Banking Institutions in Liberia.  The Quarterly Business Dinner of LIBA is an event set aside where the Association generate funds, hold discussions with stakeholders and interact with members on how the entity can move forward. Currently around the world, many businesses have graduated from individual driven business protection to institutional base and are successful. He thanked LBDI for the level of support it is giving LIBA, and appealed for more support in building the capacity of its members.The Liberia Business Association (LIBA) was established by a Legislation in 1993, to advocate for Liberian -owned and operated businesses, which over the years has made significant achievements in its advocacy.