With Liberia having one of the lowest per-capita incomes in the world, our Foundation understands how important it is for professionals to have access to both short and long-term loans. Subsequently, the goal of the Moniba Foundation is to provide financial access to thousands of people who work in key, but low-paying sectors that empower Liberia’s economy and its society.
In making the loan more effective, we do not put a limit on what the borrowed money can be used for – so whether it is simply going to the market to buy additional food to feed the family, pay hospital bills for a loved one, school fees, rent or other immediate needs, the Moniba Foundation’s goal is to ensure that the economy continues to work for all Liberians. As we look to expand, the current loan program, which is currently set at 1% interest rate for 2024, has identified the following four sectors:
- Nurses and Midwives
- Teachers
- Market Women
- Driver Unions
The interest accrued (1%), goes into building the loan program.
