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
“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
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.
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.