Port of Spain, Trinidad and Tobago,
June 8, 2010—IFC, a member of the World Bank Group, is helping bankers
develop their operations and provide financial services to improve access
to finance for small and medium enterprises in the Caribbean.
IFC, in collaboration with the government
of Japan, the Commonwealth Secretariat, and the Canadian International
Development Agency, is training bankers on building sustainable small and
medium banking operations in Port of Spain from June 8 to June 11. The
training program covers strategy and market segmentation, product design,
credit risk management, and information management systems. It also
includes a training-of-trainers component that will ensure sustainability
of the training offering in local markets beyond IFC’s workshop.
More than 30 bankers and trainers from
17 institutions representing 10 countries in the Caribbean are participating
in the event, which is part of a training program developed by IFC’s Global
SME Banking Program to help banks in emerging markets assess the potential
benefits of targeting the small business sector and to build or expand
this line of business.
“This training is just one of IFC’s
interventions that will help Caribbean financial institutions develop and
expand their services to underserved small and medium enterprises,” said
Ignacio Estévez, an IFC Senior Banking Specialist.
Small and medium enterprises are a major
driver of economic growth and job creation. Yet they often lack access
to finance, especially in developing countries. IFC, through its
Global SME Banking Program, provides capacity building to financial institutions
on how to develop sound operations for small businesses and increase their
access to financial products and services.
Ewart Williams, Governor of Central
Bank of Trinidad and Tobago, said, “We want to strengthen small business
development by encouraging financial institutions to support the needs
of SMEs, and we also are supporting small businesses in a number of other
ways such as this training.”
The Central Bank of Trinidad and Tobago
and the Caribbean Community Secretariat have endorsed and provided support
for the training. IFC also has conducted similar training in Sub-Saharan
Africa, South Asia, and the Middle East and North Africa.
To learn more about IFC’s Global SME
Banking Program, visit www.ifc.org/SMEBanking.
IFC, a member of the World Bank Group,
creates opportunity for people to escape poverty and improve their lives.
We foster sustainable economic growth in developing countries by supporting
private sector development, mobilizing private capital, and providing advisory
and risk mitigation services to businesses and governments. Our new investments
totaled $14.5 billion in fiscal 2009, helping channel capital into developing
countries during the financial crisis. For more information, visit www.ifc.org.