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Member News: Afriland First Bank to Boost Lending to Liberian SMEs

Member News: Afriland First Bank to Boost Lending to Liberian SMEs

The African Development Bank has approved US$ 20 million facility to boost lending to small and medium-sized enterprises in Liberia.

The loan, approved by the Board of Directors of the Bank on May 16, is a trade finance package for three Liberian commercial banks: Liberian Bank for Development and Investment; International Bank of  Limited and Afriland First Bank Liberia Limited, a SME Finance Forum member.

It consists of a composite funded and unfunded package under which the African Development Bank will provide funding to the three banks and a guaranty facility to allow international banks to extend confirmation lines to Liberian local banks.

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