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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.
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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