VEGA/IESC Launch Liberia Investing for Business Expansion (IBEX) Program
Press Release
22 August 2012
The Volunteers for Economic Growth Alliance (VEGA) through lead organization the International Executive Service Corps (IESC) recently were awarded the USAID Liberia Investing for Business Expansion (IBEX) Program to facilitate access to credit in Liberia’s agriculture and renewable energy sectors in support of overall national economic development. IBEX was developed to strengthen the lending environment through improved risk management, support to the lending process, and outreach designed to reduce risk and costs associated with lending in these key sectors.
- Implemented through IESC’s core Monrovia-based field team, volunteer technical experts, and partner organization Opportunities Industrialization Centers International (OICI), Liberia/IBEX's activities are concentrated among support to small and medium enterprises (SMEs), banks, and fostering sustainability through local business support organizations. IBEX’s focus on SMEs includes technical support and capacity building, identifying potential borrowers, supporting them in the loan process and assisting business planning and growth. In combination, the program works closely with its partner banks to provide technical support and capacity building; train and coach bank staff on administration, management, and structuring specific to lending in the renewable energy and agriculture sectors; as well as to introduce mechanisms and methodologies to promote proactive, informed, and criteria-driven portfolio management. Finally, sustainability is ingrained throughout the program approach via its core Liberian field team and the creation of linkages between members of the US-based Liberian Diaspora and business incubators, membership communities, and chambers of commerce to sustain mentoring and advisory support to the community.
The Liberia/IBEX Program’s official launch date is scheduled for August 22nd from 11:00 am – 1:00 pm at the IESC-Liberia office is located in the Secure Risk Building on Lynch & Broad Streets. If you have any questions, please call Chief of Party Watchen Harris Bruce @ 0888-101828 or email wbruce@iesc.org.
Please visit www.iesc.org for details.
View photos from IBEX official launching program
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