Liberia Investing for Business Expansion



Liberia is recovering from a civil war, which devastated the country and decimated the lending operations of domestic commercial banks. Banks lending in the agriculture, energy, and other sectors are risk averse and combined with a lack of capacity, especially in rural areas and in non-traditional sectors like renewable energy, has shaped an inhospitable credit environment. Additionally, there is low capacity among small and medium enterprises (SMEs) borrowers and potential borrowers who often lack financial literacy, collateral, documented credit/cash flow history, and market credibility. The resulting lack of credit in the seven sectors poses a significant constraint to growth and overall economic development.

The Liberia Investing for Business Expansion (IBEX) program focuses on improving Liberia‚Äôs lending environment in seven sectors (agriculture, renewable energy, infrastructure, construction, general merchandise, transportation, and hospitality chains) through improved risk management and outreach designed to reduce risk and cost associated with lending in these sectors. Coupled with technical assistance provided by IBEX staff and volunteer technical experts to partner banks and borrowers, this encourages lending to borrowers in the targeted sectors, with a specific focus on SMEs.    

Success Stories

Read IBEX Success Stories

104 artisans and small business owners attending IBEX
presentation at the US Embassy during Global Business Entrepreneurship Week


Services and Assistance

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.

IBEX News and Events

IBEX Trains Bankers, Entrepreneurs on Agribusiness 


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.

... read more

Read the Latest Issue of the IBEX Newsletter 


The latest issue of the IBEX newsletter has critical program updates and includes a summary of the programs accomplishments over the last three years.

... read more

IBEX Microfinance and Business Development Training 


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.


... read more

NBDAC Feasability Study (Full Report) 


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.

... read more
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Geographic Reach

Upcoming Events

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Results To Date

  • 310 Loan Consultations

  • $11 Million in Loan Applications Submitted

  • $3.3 Million in Loans Approved by USAID's Development Credit Authority Partner Banks


In the US:

Scott Bennett
Program Manager

In Liberia:

Watchen Bruce
Chief of Party