Amman, April 21, 2008—IFC, a member
of the World Bank Group, and Jordan’s Ministry of Industry and Trade today
organized a conference to promote the development of a leasing market in
Leasing experts from Jordan, Europe,
Latin America, and the United States discussed international experiences
in developing leasing markets and the necessary measures for strengthening
business enabling environments. They also discussed how to stimulate the
growth and diversification of leasing in Jordan.
IFC discussed the results of a recent
leasing market study on Jordan, which shows that while the market has grown
in recent years, it has yet to reach its full potential due to significant
constraints. It is important that the industry diversify its finances to
maximize the benefits of an active leasing market. This includes supporting
micro, small, and midsize businesses.
The conference is part of a boarder project implemented by the Ministry
of Industry and Trade and IFC Advisory Services in the Middle East and
North Africa. The project aims to strengthen legislation on financial leasing,
build capacity for financial institutions, and raise awareness of the benefits
of leasing among various stakeholders.
Leasing is an important source of medium
and long-term financing for companies in developed and transitioning economies.
It is an effective means for increasing a lessee’s asset base, particularly
in the new companies and smaller businesses that play a key role in introducing
innovation and competition and creating jobs.
IFC, a member of the World Bank Group,
fosters sustainable economic growth in developing countries by financing
private sector investment, mobilizing private capital in local and international
financial markets, and providing advisory and risk mitigation services
to businesses and governments. IFC's vision is that people should have
the opportunity to escape poverty and improve their lives. In FY07, IFC
committed $8.2 billion and mobilized an additional $3.9 billion through
syndications and structured finance for 299 investments in 69 developing
countries. IFC also provided advisory services in 97 countries. For more
information, visit www.ifc.org.