IFC Provides Local Currency Support to Access Bank to Expand SME Lending in Sierra Leone
Sierra Leone, Sept. 25 -- To help address financing gaps, strengthen private sector growth, and promote inclusive economic development in Sierra Leone, IFC today announced a partnership with Access Bank (Sierra Leone) Ltd (ABSL) to increase access to finance for small and medium-sized enterprises (SMEs) in the country, particularly those owned and led by women.Under the partnership, IFC will provide ABSL an unfunded risk-sharing facility of up to $10 million in local currency equivalent Sierra Leonean Leones, which is expected to support up to $20 million equivalent in new SME loans. ABSL will direct at least 25 percent of the financing to women-owned SMEs as part of its strategy to more than double their share in ABSL's SME portfolio to ov...
To read the full article or to get the complete feed from this publication, please
Contact Us.