Sierra Leone is struggling to finance its development needs. For this reason, the International Finance Corporation (IFC) intends to support SMEs that are often excluded from traditional financing channels

The SFI plans to partner with Access Bank Sierra Leone Limited (ABSL) to set up an unfunded risk-sharing mechanism worth up to $10 million in local currency. The initiative aims to strengthen SME access to credit, with a particular focus on those owned or managed by women. This financing will guarantee up to 50% a loan portfolio for small and medium-sized enterprises (SMEs), for a total volume of up to 20 million dollars.

Also, IFC will provide technical support to Access Bank Sierra Leone, including through internal training to ensure the effective implementation of the guarantee mechanism. Likewise, support will include capacity building activities for beneficiary structures, in order to help the bank structure a portfolio of SME-SMI loans adapted to market needs, by identifying the main gaps in the current financing offer. This operation should make it possible to increase the financing of SMEs that employ around 70% of the population, but which struggle to access capital due to various factors. It remains subject to validation by the SFI Board of Directors scheduled for May 30, 2025.