Amman, 30 May, 2006— The International
Finance Corporation, the private sector arm of the World Bank, today signed
an agreement with the National Fund for Enterprise Support, which will
allow this local Jordanian institution to provide IFC’s Business Edge
training to the country’s small and medium enterprise sector.
Together with Business Edge, the National
Fund for Enterprise Support will organize up to 25 open seminars
in major towns across Jordan in an effort to increase awareness of management
training opportunities among SMEs. In an effort to increase demand for
the training, the institution will also subsidize end-user access through
agreements with accredited Business Edge training providers in Jordan,
including Executrain, Ejabi, and Compubase.
Michel Botzung, IFC’s Business Edge Program
Manager, commented, "We expect our agreement with the National Fund
for Enterprise Support to significantly improve local SMEs' access to management
training, thus increasing their potential for growth and productivity."
The National Fund for Enterprise Support
is a nonprofit fund established by the Jordanian government under the Jordan-Japan
Industrial Development Cooperation Program and endorsed by an agreement
between the Ministry of Finance and the Higher Council for Science and
Technology. It aspires to increase the operational and competitive capacity
of local SMEs by providing financial assistance to management modernization
projects. The organization is also operating a national subsidy scheme
that aims to increase the management competency of SME owners and employees
The International Finance Corporation is
the private sector arm of the World Bank Group and is headquartered in
Washington, D.C. IFC coordinates its activities with the other institutions
of the World Bank Group but is legally and financially independent. Its
178 member countries provide its share capital and collectively determine
The mission of IFC (www.ifc.org)
is to promote sustainable private sector investment in developing and transition
countries, helping to reduce poverty and improve people’s lives. IFC finances
private sector investments in the developing world, mobilizes capital in
the international financial markets, helps clients improve social and environmental
sustainability, and provides technical assistance and advice to governments
and businesses. From its founding in 1956 through FY05, IFC has committed
more than $49 billion of its own funds and arranged $24 billion in syndications
for 3,319 companies in 140 developing countries. IFC’s worldwide committed
portfolio as of FY05 was $19.3 billion for its own account and $5.3 billion
held for participants in loan syndications.
Business Edge is the brand name for IFC’s
international range of management training products and services, specially
designed for owners and managers of SMEs. It covers 36 management topics
in five fields, namely: Marketing, Human Resources, Production and Operations,
Finance and Accounting, and Productivity Skills.
Business Edge has been successfully launched
in several Asian countries. Based on this experience, IFC’s Private Enterprise
Partnership for the Middle East and North Africa isrolling out the product
across the Middle East, and training is now available in Egypt, Oman, Saudi
Arabia, the West Bank and Gaza, and Yemen. As of today, IFC/PEP-MENA has
trained 3,322 SMEs across the region through its training providers.
IFC/PEP-MENA provides its Business Edge product
range, which includes self-study management workbooks, trainer manuals,
and train-the-trainer workshops, to local training providers. These in
turn use the Business Edge products as a core in designing their training
programs for SMEs. IFC/PEP-MENA certifies the training providers and monitors
their performance, ensuring consistent quality standards. Each training
provider invests in promoting Business Edge–based training to SMEs. IFC/PEP-MENA
in turn supports all training providers through an umbrella promotion campaign.
PEP-MENA is IFC’s technical assistance facility
that supports private sector development in the Middle East and North Africa.
PEP-MENA focuses on improving the business enabling and regulatory environment;
strengthening the financial sector; promoting the growth of small and medium
enterprises and their support services, such as business organizations
and consulting firms; helping restructure and privatize state-owned enterprises;
and developing viable private sector and public-private partnership projects,
especially in infrastructure.