January 23, 2009—With support from IFC, Liberia's first commercial microfinance bank officially opened its doors today and is now making loans to the public, helping boost the economy by providing finance to the country's smallest businesses.

IFC is a founding shareholder in AccessBank Liberia, which received a preliminary banking license from Liberia's central bank in July 2008. Since then, the microfinance bank has hired and trained loan officers, tailored savings and credit products to the local market, and ensured that all of its systems comply with Liberian law.

AccessBank Liberia is the culmination of a two-year partnership between IFC and the government, and it was established in partnership with Access Holding. IFC also worked previously with Access Holding to establish successful microfinance banks in Madagascar and Tanzania.