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IFC, Association of Banks in Jordan Help Businesses Access Finance


In Cairo:
Riham Mustafa
Phone: +20 2 2461 4230
E-mail:
RMustafa@ifc.org


Amman, Jordan, December 10, 2012—IFC, a member of the World Bank Group, is working with Jordanian banks to help smaller businesses access the financing they need to grow and create jobs, part of an effort to spur economic development across the country.

IFC, in cooperation with the Association of Banks in Jordan (ABJ),is providing training for managers and mid-level bankers to help them ramp up lending to small and medium enterprises (SMEs). While these businesses are major contributors to Jordan’s economy and a key source of jobs, they often have trouble getting loans and account for only 11 percent of all bank lending in Jordan.

“IFC will help us build the capacity of banks to accurately assess both the risks and potential benefits of lending to smaller businesses and explore different financing options,” said Adli Kandah, ABJ General Manager.

Across the Middle East and North Africa, smaller businesses face difficulty accessing finance mainly due to their limited resources, lack of collateral, and perceived risk by lenders, hindering their growth.  
“Small businesses are key to boosting the region’s dynamism and development,” said Ahmed Attiga, IFC Principal Country Officer in Jordan. “Strengthening the financial capacity of these businesses will help them grow, generate more output, and create much-needed jobs.”

The three-day training seminar, Scaling Up SME Banking, will give participants a thorough understanding of SME banking operations and international best practices. It will focus on credit risk management and identifying market opportunities.


This initiative is part of the Micro, Small and Medium Enterprises Facility, a joint effort by IFC and World Bank.  In Jordan, the facility is helping promote sustainable financing, extending financial services to smaller enterprises and supporting women entrepreneurs. The facility is supported by UKaid, Switzerland’s State Secretariat for Economic Affairs, and the government of Japan.

About IFC
IFC, a member of the World Bank Group is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, mobilizing capital in international financial markets, and providing advisory services to businesses and governments. In FY12, our investments reached an all-time high of more than $20 billion, leveraging the power of the private sector to create jobs, spark innovation, and tackle the world’s most pressing development challenges. For more information, visit www.ifc.org.

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