By Catherine K C Jackson
MONROVIA, July 5 (LINA) – The World Bank Group has called for stronger digital transformation, improved access to finance, and more inclusive business support systems to accelerate the growth of Micro, Small, and Medium Enterprises (MSMEs) in Liberia, describing them as a key driver of job creation and economic resilience.
Speaking at Liberia’s World MSME Day celebration in Monrovia on Friday, June 26, 2026, World Bank Liberia Country Manager Georgia Wallen said MSMEs remain the backbone of the economy and are essential to addressing youth unemployment in a country where nearly 75 percent of the population is under the age of 35.
She noted that many young Liberians continue to work in low-productivity informal jobs, stressing that expanding the MSME sector is critical to changing that reality.
Ms. Wallen explained that job creation remains central to the Government of Liberia’s Arrest Agenda for Inclusive Development (AAID), adding that the World Bank Group’s upcoming five-year partnership with Liberia will focus on building stronger foundations for more and better-paid jobs.
She emphasized that supporting MSME growth is one of the most effective pathways to increasing incomes and expanding employment opportunities across the country.
The World Bank Country Manager also highlighted digital transformation as a key theme for this year’s World MSME Day, describing it as a major driver of competitiveness and growth for small businesses, adding that digital tools are not only about technology but also about expanding market access, improving productivity, reducing business costs, and enabling enterprises to participate more effectively in both local and international markets.
Ms. Wallen further stressed that inclusion must remain at the center of digital and economic transformation, warning that women-owned businesses, youth entrepreneurs, and enterprises outside Monrovia risk being left behind if targeted support is not strengthened.
She reaffirmed the World Bank Group’s commitment to Liberia’s development agenda, noting that its mission is to end extreme poverty and promote shared prosperity in partnership with national institutions.
She pointed to the Liberia Investment Finance and Trade (LIFT) Project as a key instrument supporting MSME development through improved access to finance, strengthened business development services, and enhanced digital financial infrastructure.
She said the Accelerate 360 initiative under the LIFT Project is currently building the capacity of 55 business development service providers and entrepreneurship support organizations to improve management practices, productivity, and growth readiness for small businesses across Liberia.
She also highlighted the US$6 million SME Line of Credit, which has supported 253 MSMEs so far and continues to show strong performance, including high repayment rates and no non-performing loans, describing it as a tool that is not only improving access to finance but also unlocking opportunities and creating jobs.
Ms. Wallen cited examples of beneficiaries such as Grace Healthcare Center, which is expanding access to healthcare services, BHP Inc., which is scaling operations in the heavy equipment sector, and Master’s Touch, which has grown from a janitorial service into a diversified enterprise supplying school uniforms and essential goods.
She added that the LIFT Project is also supporting reforms to strengthen digital financial services and payment systems, aimed at making transactions more efficient, secure, and accessible for businesses and consumers while helping to expand participation in the formal economy.
The World Bank Country Manager concluded by reaffirming that through digital transformation, financial inclusion, and targeted enterprise support, the World Bank Group will continue working with Liberia to expand opportunities for MSMEs to grow, compete, and create jobs, while commending the resilience and determination of Liberian entrepreneurs.