Home NewsBusiness CBL Completes Bidding for Printing of New Bank Notes

CBL Completes Bidding for Printing of New Bank Notes

by Jarp Davies

Monrovia, Liberia – The Central Bank of Liberia (CBL) says it has completed the bidding process for the printing of additional Liberian dollar banknotes.

A CBL release says the additional banknotes will help address the lingering liquidity problem and provide easier access to the local currency.

Crane AB, a global banknote and currency service provider that is partnering with over 50 central banks worldwide, has been selected to print additional four billion Liberian dollar banknotes.

According to the CBL release, Crane AB was selected among five internationally reputable currency printing companies based on cost and delivery time.

The company will print the four billion Liberian dollar banknotes, all in 500 denominations, and deliver the money by July this year. 

At the same time, Central Bank Executive Governor, Aloysius Tarlue, has lauded USAID for making the technical assistance of Kroll available to the bank to enhance its institutional capabilities and overall operations.

Governor Tarlue noted in the release that the CBL  is work along with a team from Kroll to ensure integrity of the bidding process and its full compliance with internationally accepted standards.

The CBL Governor said the selection of Crane AB is the result of a competitive and transparent procurement process that was opened to several major currency printers around the world. 

According to Governor Tarlue, the Central Bank will keep Liberians fully informed about the arrival and injection of the additional banknotes into the Liberian economy.” 

He disclosed that with technical assistance of Kroll, the CBL will track the shipment of the additional banknotes from the printer to the bank’s vaults and into the banking system.

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