Erbil, Iraq, November 6, 2012—IFC,
a member of the World Bank Group, is launching a new training program designed
to help entrepreneurs improve their managerial skills, part of wider effort
to support smaller businesses and encourage economic development in Iraq.
Through its Business Edge program, IFC
will build the capacity of local trainers who work with small and medium
enterprises, including those owned by women. That will help business owners
refine their managerial and financial skills, an important initiative in
a country that has seen a large number of highly-skilled workers emigrate
abroad. IFC will also partner with agri-service providers to deliver technical
training to farmers, helping boost milk production.
“Non-oil sectors such as banking, construction,
housing, and power generation have the potential to re-invigorate the economy,”
said Ziad Badr, IFC Country Officer in Iraq. “Building the managerial
skills of entrepreneurs in these fields will help the Iraqi economy grow
and create jobs.”
Business Edge is an interactive management
training program that helps smaller businesses improve their competitiveness,
productivity, and growth. It is tailored to meet the needs of local markets.
During last year, IFC Business Edge partners helped train 5,900 people,
25 percent of whom were women, in Pakistan, Afghanistan, Yemen, Egypt,
Saudi Arabia, West Bank and Gaza, and Bahrain.
This initiative is part of IFC’s Sustainable
Business Advisory in the Middle East and North Africa, which aims to help
smaller businesses improve their performance and competitiveness by offering
skills training and promoting gender diversity.
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.