The Liberia Investing for Business Expansion (IBEX) program, a project of the United States Agency for International Development (USAID) that focuses on improving access to financial services for small and medium-sized enterprises (SMEs) by linking them with banks, provided clients in the agriculture, construction and trade sectors with access to loans totaling USD 860,000 from July to September 2014. The credit, in addition to advice and mentoring provided directly by IBEX, was intended to assist businesses affected by the spread of the Ebola virus in the region. Neither the number of businesses served nor the names of the partner banks have been released. IBEX is also trying to mitigate the effects of the Ebola crisis by seeking partners in the construction and sanitary sectors that can establish Ebola treatment centres.
Additionally, IBEX is working to provide three unspecified Liberian SMEs with access to loans worth USD 205,000 for unspecified purposes. Three other unspecified projects valued at approximately USD 1 million are also being explored with partner banks.
For the fiscal year 2013, USAID had budgetary resources of USD 23.2 billion. Financial information on IBEX is not available.
By Simon Pfanner, Research Associate
About Liberia Investing for Business Expansion (IBEX)
Liberia Investing for Business Expansion (IBEX) is a program that was developed by the United States Agency for International Development (USAID) in an effort to improve access to finance for small and medium-sized enterprises (SMEs) in the agricultural, construction and renewable energy sectors. The program was established in 2012 and is slated to last until 2016. IBEX had International partners including the US-based International Executive Volunteer Corps (IESC) and US-based Opportunities Industrialization Centres (OIC) International. Its local partners include IB Bank and EcoBank. Financial information on IBEX is not available.
Sources and Additional Resources
[1] ISEC press release, IBEX Program Helping to keep Liberian Economy Running During Ebola Crisis
MicroCapital, June 5, 2013, Tigo Ghana, EB Accion, Cherie Blair Foundation for Women, USAID to Help Women Become Mobile Money Agents
MicroCapital, November 27, 2012, United States Agency for International Development (USAID) Releases Youth Policy
MicroCapital Universe Profile: Liberia Investing for Business Expansion (IBEX)
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