Cairo, Egypt, April 12, 2010—IFC,
a member of the World Bank Group, is helping bankers develop financial
products to improve access to finance for small and medium enterprises.
IFC, in collaboration with the government of Japan, organized training
for bankers in Cairo from April 12 to April 15. More than 40 bankers
and trainers from 30 institutions from 12 countries participated in the
program, which included sessions essential to building a sustainable SME
banking operation such as product design, credit risk management, and support
Small and medium enterprises, accounting for more than 90 percent of registered
companies in the world, are a major driver for economic growth and job
creation. Their role is even more important in the post-crisis period.
Yet small businesses often lack access to financial products and services,
especially in developing countries. IFC advises financial services providers
on how they can profitably develop operations for small and medium businesses
and increase their access to financial services.
“In many countries the majority of jobs are provided by SMEs. They
are vital to national economies and need access to financial services to
increase productivity of their business, develop new markets, and hire
more people,” said Peer Stein, Global Business Line Leader of IFC’s Advisory
Services in Access to Finance. “These trainings provide banks working
with SMEs the specific skills and knowledge to implement or enhance their
SME Finance programs.
IFC is the only international financial institution focused exclusively
on the private sector, the engine of sustainable development in emerging
markets. Along with IBRD, it is currently seeking a capital increase to
strengthen its ability to create opportunity for the poor in developing
countries—including by sharing international best practices and guidance
on increasing access to financial services for small businesses.
For more information about IFC’s banking program for small and medium
enterprises, 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.