The U.S. Agency for International Development (USAID) awarded a $500,000 Project Grant under the USAID Foreign Assistance for Programs Overseas (CFDA 98.001) program to Pangea Ventures Inc., a self-certified small disadvantaged business, on February 9, 2024. The grant funds the Catalyzing Investment for Small Businesses (CISB) activity in Sierra Leone, which aims to provide affordable access to finance and business advisory services to qualified small and medium enterprises (SMEs) in order to attract impact investors to the Sierra Leonean market. The $3M total project will leverage $2.5M in private sector investment alongside the USAID funding, with the long-term goal of engaging local banks to sustainably finance SMEs at affordable rates, reducing the need for future donor support. In addition to this direct grant, Pangea Ventures has received two sub-awards from Food Enterprise Solutions, LLC to facilitate foreign investment in Senegalese food enterprises.
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