ACCESS BANK LIBERIA - EQUITY
- Reference: P-LR-HA0-001
- Approval date: 13/12/1901
- Start date: 01/01/2002
- Appraisal Date: 23/03/2008
- Status: OngoingOnGo
- Implementing Agency: ACCESS BANK LIBERIA
- Location: LIBERIA
The overall objective of the Bank
The project is expected to have a high development impact exemplified by a strong demonstration effect and outreach in a post conflict country. The project will jump start the provision of microfinance services in Liberia, where access to finance is sparse for the entire population and low income sectors in particular. By creating a new institution able to sustain microfinance on commercial terms and following best practices, the project has the potential to generate a substantial increase in the long term availability of financial services for the poor.
Furthermore, the investment is expected to have valuable mid-term development outcomes, through the contribution to building a micro finance industry in compliance with best practices in a country where the sector is still undeveloped; bridging the financing gap for growth-oriented micro and small enterprises; supporting the creation and growth of viable micro-enterprises, increasing income among micro-entrepreneurs and generating employment.
ABL is expected to create direct employment for at least 400 local staff, of which 50% will be women. Indirectly, it is estimated that the 27,000 micro-entrepreneurs served by ABL will add another 12,000 jobs by growing their businesses. ABL will also add to the tax revenues of the government primarily through corporate taxes of ABL
DERBY Nanette Esi - OPSD4