In a signing ceremony on Tuesday, October 13, at the Mamba Point Hotel, representatives from the USAID mission in Liberia and Afriland First Bank Liberia signed a risk-sharing agreement between the bank and USAID’s Development Credit Authority.
While the Ebola virus spreads through West Africa, a USAID program that aims to improve the lending environment has been continuing to work hard to keep the Liberian economy moving by facilitating essential loans for local businesses. “Now more than ever, Liberian businesses need access to finance to enable them to operate, to pay suppliers, and to help their businesses through these difficult times."
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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.
No events scheduled.
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