The two years extension grant agreement, according to the release, is intended to provide finance to MSMEs on a sustainable term, enhance capacities of local private sector financial institutions to lend profitably. It may be recalled that in early 2017, the Liberian government received a grant of US$4.8 million from the World Bank for the MSMEs Post-Ebola Reconstruction Project. The funds are channel through seven financial institutions, which include three commercial banks and four microfinance or non-banking institutions. Flomo believes it is the MSMEs sector that has great potential to grow the economy by serving as the engine for growth. Commerce Minister Wilson Tarpeh, lauded World Bank and other development partners for their supports and staying with the country during its difficult times.

Source: Daily Observer March 29, 2019 02:26 UTC