British International Investment (BII) has announced a $25 million risk-sharing facility with Ecobank Sierra Leone to boost the country’s private sector. This initiative, which includes a comprehensive technical assistance program, aims to increase lending to small and medium-sized enterprises (SMEs), which are essential to the local economy.
SMEs, representing 70% of employment in Sierra Leone, face challenges in accessing capital. The new facility will enable the provision of local currency loans, extended loan durations, and increased credit limits. This will help stimulate business growth, create jobs, and strengthen the national economy.
This project marks the first investment from the Africa Resilience Investment Accelerator (ARIA), which targets frontier markets to stimulate investments.
