Monrovia, Liberia – July 31, 2025 – The World Bank today officially launched Phase 2 of the Line of Credit under the Liberia Investment, Finance, and Trade (LIFT) Project, marking a significant step forward in strengthening Liberia’s financial system and expanding access to crucial financing for micro, small, and medium enterprises (MSMEs). The ceremony, held at the Central Bank of Liberia, underscored the project’s vital role in achieving Liberia’s Vision 2030 and the new ARREST Agenda for Inclusive Development (AAID), both of which prioritize economic transformation and job creation.
Georgia Wallen, World Bank Liberia Country Manager, highlighted the project’s alignment with the World Bank Group’s new Country Partnership Framework with Liberia, which aims to foster more and better jobs by boosting private investment. “Boosting private investment requires access to finance for entrepreneurs – including women and youth,” Wallen stated. “The line of credit under the LIFT project helps answer this call.”
Phase 1 of the LIFT Project’s Line of Credit demonstrated remarkable success, with nearly 100 MSMEs accessing financing. A strong emphasis on inclusion was evident, as over half of the beneficiaries were women-led businesses, and several were new clients to the participating financial institutions. Notably, almost half of the supported businesses were located outside of Montserrado County, demonstrating the project’s reach beyond the capital. “The positive overall experience in Phase 1 of the Line of Credit laid a strong foundation,” Wallen explained. “It successfully demonstrated that with the right tools, Liberian financial institutions are ready and able to extend credit to underserved businesses.”
Phase 2 builds on this success by expanding into new sectors, including agriculture, manufacturing (especially agro-processing), healthcare services, and education. This expansion aims to reach a more diverse range of businesses and support longer-term, investment-oriented financing, promising deeper and more lasting impact. The World Bank is committed to providing technical assistance to its financial institution partners to ensure their success, particularly as they venture into these new sectors and lending models.
Wallen emphasized that the success and sustainability of the Line of Credit hinge on shared ownership and mutual accountability. This is not merely about disbursing funds, but about doing so in a responsible, transparent, and sustainable manner. As a revolving line of credit, every dollar repaid can be re-lent to another business, making repayment a development multiplier. “These are not grants; they are loans meant to grow their businesses, create jobs,” Wallen stressed.
The World Bank Country Manager concluded by reiterating the shared ambition to see Liberian businesses flourish, new jobs created, and a more resilient and inclusive economy built, one investment at a time. She highlighted the crucial roles of all stakeholders:
- Financial institution partners: Their leadership, commitment, careful stewardship, sound lending practices, and strong client engagement are essential for the revolving fund’s success.
- Borrowers: This facility presents an opportunity to grow, create, and contribute, with repayment enabling others to also turn their visions into reality.
- Government and project teams: Their tireless efforts, integrity, and focus in moving the project forward are commendable.
- All Liberians: This facility is for them – for the tailor seeking a second sewing machine, the shop owner restocking inventory, the farmer expanding production, and the food processor investing in packaging.
The launch of Phase 2 of the LIFT Project’s Line of Credit represents a significant step forward for Liberia’s economic development, promising to empower MSMEs and foster sustainable growth across the nation
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