US$6M LIFT Project Initiative Launched -LOC-LIFT-P Takes Awareness to 5 Counties

A stellar example of visionary leadership and unwavering commitment to national development, the Government of Liberia’s initiative to boost Micro, Small, and Medium Enterprises (MSMEs) through the Liberia Investment, Finance & Trade Project (LIFT-P) is truly a beacon of hope for the nation’s economic resurgence, deserving of highest praise and commendation, economic experts say. The Analyst reports.

The Liberia Investment, Finance & Trade Project (LIFT-P), a Government of Liberia initiative, has launched the first phase of its nationwide Line of Credit (LOC) Monitoring and Awareness Campaign. The campaign aims to energize business communities across Lofa, Nimba, Bong, Margibi, and Grand Bassa counties, promoting access to affordable finance for Liberian entrepreneurs.

The campaign, which kicked off in Foya, Lofa County, on October 28 and concluded in Buchanan, Grand Bassa, featured town hall meetings, radio talk shows, and direct engagements. These activities deepened understanding of the LOC facility and expanded access to affordable finance for Liberian entrepreneurs.

A delegation comprising representatives from the LIFT-P Project Implementation Unit (PIU), Ministry of Commerce and Industry, Ministry of Finance and Development Planning, Central Bank of Liberia, and the Liberia Business Association (LIBA) led the campaign.

LOC Progress

Since its inception in 2024, the LOC has disbursed nearly US$2.5 million to 112 MSMEs across eight counties, offering long-term, low-interest loans through participating financial institutions. Building on this success, Phase II, launched in July 2025 with US$3.5 million and seven financial institutions, seeks to reach even more Liberian-owned businesses, particularly in agriculture, manufacturing, and technology.

“This initiative is a game-changer for Liberian entrepreneurs,” said James Smith, Head of LIBA County Coordinators. “We are urging every local business to register and take advantage of this opportunity to access affordable financing. It’s time to move from the informal sector into the formal economy.”

Addressing Concerns and Promoting Inclusion

During the five-county tour, business owners raised concerns about high interest rates, transparency, and competition from foreign-owned businesses. The campaign team assured participants that LOC loans carry interest rates of 12–14%, repayment periods of up to three years, and grace periods of two to six months — terms designed to ease borrowing for MSMEs and break the cycle of predatory lending.

“The Line of Credit under LIFT-P is designed to break barriers for MSMEs,” emphasized Patrick Paye, Financial Sector Development Specialist at the PIU/Ministry of Commerce. “With low interest rates and flexible terms, we are creating a pathway for businesses to grow and contribute to Liberia’s economic transformation.”

Gender inclusion remains a cornerstone of the program, with 54% of loans in Phase I going to women-owned or women-led businesses, enabling many to expand market stalls, open shops, and launch new ventures.

Formalizing Businesses and Ensuring Compliance

The campaign highlighted the importance of formalizing businesses, with LIBA representatives stressing that 84% of Liberian businesses operate informally, limiting access to finance and tax compliance. LOC aims to change this by incentivizing registration and banking relationships.

Alongside awareness activities, the LIFT-P team conducted a comprehensive monitoring exercise, reviewing environmental and social safeguards documentation, assessing business practices, and conducting physical inspections of project sites to ensure compliance with LIFT-P’s guidelines and mitigation measures.

The nationwide Monitoring and Awareness Campaign will continue in the coming weeks, covering additional counties with a similar itinerary of outreach, inspection, and stakeholder dialogue