Gujranwala, Pakistan, October 6,
2011— IFC, a member of the World Bank Group, is sponsoring a conference
to improve the business climate for smaller companies in Pakistan, an initiative
designed to propel economic growth across the country.
The Small and Medium Enterprises Annual
Conference, to be held on Oct. 6 in Gujranwala, will bring together over
200 entrepreneurs, government officials, and development professionals.
They will discuss issues such as the regulatory framework governing
small and medium enterprises (SMEs) and the performance of the SME sector,
which accounts for 40 percent of Pakistan’s GDP. They will also discuss
ways to support entrepreneurs.
“Small and medium enterprises are the
driving force for any developing country’s economy, and our objective
is to enhance entrepreneurial capacity in Pakistan,” said Javed Iqbal,
a Project Officer with IFC. “By unlocking the potential of these businesses,
we can stimulate fair and equitable economic growth across the country.”
The conference is associated with IFC’s
Business Edge training program, which helps SMEs build their management
capacity and gain access to financing, elements that are critical to their
To date, Business Edge has trained 1,400
owners and managers of small and medium enterprises in Pakistan, and has
eight accredited training partners across the country. It has also
signed training agreements with several well-known institutions, including
the Aga Khan Foundation, Silk Bank, and Standard Chartered Bank.
IFC, a member of the World Bank Group,
is the largest global development institution focused exclusively on the
private sector. We help developing countries achieve sustainable growth
by financing investment, providing advisory services to businesses and
governments, and mobilizing capital in the international financial markets.
In fiscal 2011, amid economic uncertainty across the globe, we helped our
clients create jobs, strengthen environmental performance, and contribute
to their local communities—all while driving our investments to an all-time
high of nearly $19 billion. For more information, visit www.ifc.org.