Sierra Leone: BII launches $25 million facility to support growth

British International Investment (BII) has announced a $25 million risk-sharing facility with Ecobank Sierra Leone to boost the country's private sector. The initiative, which includes a technical assistance programme, aims to increase lending to small and medium-sized enterprises (SMEs), which are vital to the local economy.SMEs, representing 70% of employment in Sierra Leone, face barriers to accessing capital. The new facility will provide loans in local currency, extended tenors 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) program, which targets frontier markets to stimulate investment.Source: Africa News Agency