Monrovia, Liberia, 5 March 2013 – Rashad
Kaldany, IFC’s newly appointed Chief Operating Officer, affirmed IFC’s
commitment to supporting private sector development in Liberia as he opened
IFC’s new office in Monrovia in the presence of Natty B. Davis, Chairman
of Liberia’s National Investment Commission.
Kaldany said, “Building the road to prosperity
after years of conflict is a long-term effort. Since peace came back to
Liberia, we have been supporting private sector growth in the country by
working with the government to facilitate business operations and reduce
opportunities for graft, and by investing in game-changing companies. As
we open a bigger office in Monrovia, we commit to increasing our efforts
and to be Liberia’s long-term partner.”
IFC currently manages investments in Liberia
totalling $17 million in the agribusiness, mining and banking sectors.
In partnership with the Swedish International Development Cooperation Agency,
IFC has actively been supporting the government’s efforts to improve its
investment climate and has put in place several initiatives to help SME’s
access to finance, including a leasing program and a program to create
During his visit, Kaldany, jointly with the
Miata Beysolow, Minister of Commerce and Industry, launched the Liberia
Women Entrepreneurs Network, a platform to empower women entrepreneurs
to undertake business initiative. The network will enable women entrepreneurs
to exchange ideas, frame policy recommendations and pool resources. Finally,
Kaldany also met with financial backers and representatives of the private
sector with whom he discussed the difficulties encountered by Liberian
businesses and possible solutions.
Liberia is one of eight countries in Sub-Saharan
Africa supported by IFC's Conflict Affected States in Africa Initiative
(CASA), which provides advisory services to strengthen the private sector
in countries recovering from conflict. CASA is helping Liberia improve
its investment climate, attract investment, and develop its SME sector.
In Liberia, CASA is supported by donor partners which include Ireland,
the Netherlands, Norway, and Sweden.
IFC, a member of the World Bank Group, is
the largest global development institution focused exclusively on the private
sector. We help developing countries achieve sustainable growth by financing
investment, mobilizing capital in international financial markets, and
providing advisory services to businesses and governments. In FY12, our
investments reached an all-time high of more than $20 billion, leveraging
the power of the private sector to create jobs, spark innovation, and tackle
the world’s most pressing development challenges. For more information,