IFC recently signed a landmark agreement to establish Liberia's first microfinance bank. IFC will be a founding shareholder in AccessBank Liberia, providing financing to the bank's micro, small, and midsize customers, many of whom do not have access to financial services. This will be a crucial boost to the local economy.
The investment will be among IFC's first in Liberia since the country emerged from a shattering civil war. This reflects our commitment to reaching a more diverse range of countries, including Africa's poorest and those affected by conflict, or where the private sector is at the very early stages of development.
"The successful launch of AccessBank Liberia demonstrates our strong belief in the potential of the country's private sector," said Thierry Tanoh, IFC Vice President for Africa. "Supporting Africa's smallest businesses and entrepreneurs by helping extend financial services to people and places where they are most needed is a crucial part of our strategy in Africa."
For more information contact:
Houtan Bassiri
Communications Officer
Johannesburg, South Africa
Tel: +27-11-731-3179
E-mail: hbassiri@ifc.org
Published on August 1, 2008
