MONROVIA, LIBERIA-The Commerce Ministry and the Central Bank of Liberia (CBL) have signed an agreement with seven financial institutions to provide loans for micro, small, and medium enterprises (MSMEs) across Liberia.

The six-million US Dollar line of credit initiative aims to provide low-cost, long-term loans to the MSMEs to enable them to drive the private sector development and support sustainable economic growth.

The agreement signed on Thursday, July 31, 2025, in Monrovia by Commerce Minister Magdalene Dagoseh, CBL Executive Governor Henry Saamoi, and representatives of the financial institutions marks the launch of the second phase of the loan program under the Liberia Finance Investment and Trade Project (LIFT-P).

At the signing ceremony at the CBL Headquarters, Commerce Minister Dagoseh said, “The line of credit facility will focus on MSMEs that are in sectors that are diversified and create jobs for Liberians”.

For his part, the Central Bank Executive Governor, Henry Saamoi, lauded the World Bank for its support of the program and stressed the need for a strong credit culture in Liberia.

By: Jarp Davies/Dorbor Harris