Improving Economies for Stronger Communities (IESC)
2000 M Street NW
Washington, DC 20036
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The program has a two-pronged approach to stimulating access to finance for small and medium enterprises (SMEs), working with both lenders and borrowers to build successful and profitable loan relationships that grow the economy and create jobs.
Investing for Business Expansion continued operations, with some small modifications to ensure safety, during the 2014 Ebola virus outbreak. IESC worked with lenders and borrowers to restructure existing loans to businesses that were adversely affected by the health crisis.
Liberia is still recovering from civil war. It decimated the economy, and banks became very risk averse. Combined with the fact that that overall financial literacy is low and business owners don’t always have the documentation necessary to apply for a loan, small business lending was almost nonexistent. Liberia Investing for Business Expansion supports economic growth in Liberia by improving the small business lending environment across seven sectors: agriculture, renewable energy, infrastructure, construction, general merchandise, transportation, and hospitality.
Administrator: Volunteers for Economic Growth Alliance
Project Duration: 2012-2016
Award: $3.4 million