A new signed agreement between the United States Agency for International Development (USAID) and Afriland First Bank aims to increase agricultural lending through an enhanced relationship and capacity that will help provide for working capital for operations, inputs, or equipment to smallholder farmers.
The latest issue of the IBEX newsletter has critical program updates and includes a summary of the programs accomplishments over the last three years.
Last month, more than 20 professionals who provide support services to businesses gathered at the Corina Hotel to learn how they can best serve their clients and grow their own business at the same time. The daylong training, which took place on December 21, was attended by representatives from microfinance institutions and business development services organizations.
The Agency for Economic Development and and Empowerment has submitted its final report of the "Feasibility Study and Strategic Business Plan for the Proposed National Business Development And Advisory Center" to the IBEX Program.
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1. Technical support and capacity building for SMEs to identify potential borrowers, support them in the loan process, and assist business planning and growth.
2. Technical support and capacity building for banks to train and coach bank staff on administration, management, and structuring specific to lending in seven sectors including the renewable energy and agriculture sectors in, as well as to introduce mechanisms and methodologies to promote proactive, informed, and criteria-driven portfolio management.
3. Sustainability of program impact through business incubators, membership communities, and chambers of commerce, where mentoring and advisory support services are institutionalized through U.S. diaspora linkages.
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310 Loan Consultations
$11 Million in Loan Applications Submitted
$3.3 Million in Loans Approved by USAID's Development Credit Authority Partner Banks
Chief of Party