USAID-IBEX, IB, Ecobank to Sign Financial Agreement

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Efforts to improve Liberian-owned businesses, as well as access to private sector finance, the USAID-funded Liberia Investing for Business Expansion (IBEX) in partnership with the International Bank (IB) and Ecobank Liberia Limited are expected to sign an expansion support for financing services in the country.

The signing ceremony is expected to take place on Friday, March 14, at the Mamba Point Hotel in Monrovia.

IBEX is an implementing partner of the United States Agency for International Development (USAID) in Liberia.

The project, if signed will among other thing provide financial assistant to small and medium-sized enterprises (SMEs) throughout the country and expand their businesses.

According to a statement, USAID-IBEX program is also intended to address issues of transportation, construction, and Infrastructure developments and amongst other.

The statement said that the organizations had being providing financial support to SMEs and local banks in the country that are actively engage into Liberia’s agriculture and renewable energy sectors.

The statement further explain that IBEX program is contributing to the “Economic Transformation” pillar of the Government five-years Agenda for Transformation (AfT) in helping to stimulate the growth of Liberia’s private sector and to foster the creation of improved job opportunities in the country and to improved access to commercial finance.

Meanwhile, the USAID-funded Liberia Investing for Business Expansion (IBEX) program provides technical support and capacity building for SMEs, focused on coaching, advising and mentoring in business management and facilitating the preparation of loan applications and other financial documents.

The organization also creates awareness of finance options and opportunities and increasing the number of bankable deals in the country.

“We provide more support to bank leading staff in systematic underwriting approaches and processes to appraise borrowers’ loan applications.”

The organization also creates and expands business networks and encouraged U.S-based Liberian Diaspora investor in the country.

Those expected at the signing ceremony are Mr. John Winfield, USAID Liberia’s Mission Director, Ecobank Managing Director, Mr. Kola Adeleke, and the Managing Director of International Bank.

Other included, Mrs. Watchen H. Bruce, Chief of Party, IBEX program and the representative from the International Executive Service Corps and Volunteers for Economic Growth Alliance, who is implementing the IBEX program.

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