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English: Empowered Thousands of Liberians by Improving Access to Capital

1. The CBL small/medium enterprise (SME) Credit Stimulus Initiative. Provides loans to Liberian-owned small businesses. By the end of the program in September 2013, a total of 93 loans had been awarded in Margibi, Nimba and Montserrado counties, impacting industries including fisheries, petroleum, manufacturing, and agriculture, amongst others. Thirty-one of these loans were provided to women-owned businesses. 2. The Loan Extension and Availability Facility (LEAF). The LEAF program was designed as a collateral-free soft loan program to nonbank financial institutions: micro finance institutions, credit unions, and village savings and loan associations. The intent of the program was to provide access to capital to the microfinance sector in rural Liberia. The LEAF program commenced in January 2012 and to date has disbursed over L$400,000,000 million throughout Liberia’s fifteen counties. Beneficiaries include 10 Microfinance institutions, 118 credit unions, and 345 village savings and loan associations. Women represented over 80% of beneficiaries under the program. 3. The CBL Mortgage Stimulus Initiative provided for the first time in Liberia a facility allocated through a commercial bank for Liberians to get loans for homeownership. A total of 69 loans, totaling over US$2.6 million have been disbursed under the program. 4. The CBL Agricultural Stimulus Initiative recognized that agriculture is the main driver of economic activities in rural Liberia. This US$7.5 million stimulus has a focus on the rehabilitation of pre-existing farms with a preference for investments requiring minimal gestation periods. The facility provides structured loans with consideration for the gestation period and is intended to impact rural Liberia. Over US$4.6 million and over L$65 million have been approved and disbursed within sectors such as rubber, cocoa, coffee, and oil palm, amongst others. A total of 12 countries has benefitted from this program.

5. The CBL Credit Stimulus Initiative for Members of the Liberia Business Association (LIBA) is the second infusion of funds that provide access to finance for Liberian-owned businesses and is being implemented in conjunction with three commercial banks. A total of 38 loans have been approved under the program for over US$1.2 million and 32% of those loans have gone to women-owned businesses. At least 6 countries have now benefitted from this program.