Islamabad, Pakistan, June 3, 2011—IFC,
a member of the World Bank Group, together with the State Bank of Pakistan
(SBP) today launched a series of publications to help the Pakistani banking
sector expand access to finance for the small and medium enterprises that
drive job creation and growth in the country.
IFC and SBP have produced a series of booklets about the ways banks can
increase lending to small and medium enterprises. These booklets, which
cover ten sectors including agriculture, education and logistics, aim to
help banks create better and lower-cost product programs that enable more
small businesses to get financing and expand their operations.
Kaiser Naseem, IFC’s Head of Bank Advisory Services for MENA, said, “IFC
works to help small businesses obtain financing to grow and create jobs.
Our work in Pakistan will encourage banks to lend money to new markets,
encouraging economic growth.”
These booklets follow a study conducted by IFC and SBP in Pakistan that
included the participation of 15 Pakistani banks, and over 300 interviews
of small businesses in 10 sectors. Each booklet includes an industry overview
and chapters on market assessment, risk assessment, financial benchmarking,
proposed banking products for the sector, and guidance on how these products
could be channeled and distributed.
IFC Advisory Services in the Middle East and North Africa supports regional
efforts to develop financial infrastructure, build the capacities of commercial
banks to provide financial services to SMEs, strengthen bank’s risk management
frameworks, increase the availability of microfinance, and expand the availability
of affordable housing finance by developing robust primary and secondary
residential mortgage markets.
IFC, a member of the World Bank Group, is the largest global development
institution focused on the private sector in developing countries. We create
opportunity for people to escape poverty and improve their lives. We do
so by providing financing to help businesses employ more people and supply
essential services, by mobilizing capital from others, and by delivering
advisory services to ensure sustainable development. In a time of global
economic uncertainty, our new investments climbed to a record $18 billion
in fiscal 2010. For more information, visit www.ifc.org.