The public is hereby informed that the Government of Liberia has signed an agreement for a grant of US$ 4,800,000 (four million eight hundred thousand USD) from the World Bank for the purpose of financing the MSME Rural Finance Post Ebola Reconstruction Project. Said Project will provide Partial Credit Guarantees (PCGs) and lines of credits for on-lending to Participating Financial Institutions (PFIs) to support MSME sub-loans to eligible MSMEs particularly in agriculture, agro-processing and manufacturing sectors for the carrying out of sub – projects.
The funds for the MSME-Rural Finance Post Ebola Reconstruction Project loan scheme will be entirely administered by the Participating Financial Institutions (PFIs) which include: Liberia Bank for Development and Investment (LBDI), GN Bank, Afriland Bank, BRAC, DIACONIA Foundation for Women and Business Link. As it is common knowledge that MSMEs are drivers of economic activities, innovation and employment in Liberia’s economy as well as critical in promoting economic growth and development, it is expected that the Project benefits will include stimulation of economic growth, diversification of the economy particularly in rural areas and the creation or sustaining of over 2000 jobs.
Official launching ceremony of the above mentioned project is scheduled to take place on Tuesday 28th November, 2017 at the Monrovia City Hall commencing at 9:30 AM and will be held under the theme “Access to Affordable Domestic Finance for MSMEs in Liberia”. The Minister of Finance and Development Planning Hon. Boima S. Kamara will deliver the Opening Statement.