The U.S Government's development finance institution, OPIC, today signed a commitment letter for a US$20 million direct loan to International Bank Liberia Limited (IBLL) to support lending in sectors such as construction, services, manufacturing, agribusiness, hospitality, and transportation. The landmark deal is the first of its kind in Liberia and seeks to foster jobs and opportunities by supporting investments in key economic areas and increasing long term lending to the Liberian Private Sector. Find the full report here.
Steve Cashin Named Chair of Africare Board
Stephen Cashin, the founder and CEO of Pan African Capital Group, has today been named the Chairman of the Board for Africare, the development organization that has funded over $1 billion worth of projects across 36 countries across Africa since its founding in 1970. Africare is the oldest and largest African-American led organization in the development field, currently focusing on projects affecting agriculture and food security, health, water, women's empowerment, and other crucial areas of need. Find the press release on Mr. Cashin's appointment here, and for more on the work of Africare or to donate, please see their website here.