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Mumbai, India, November 13, 2007 —
IFC, a member of the World Bank Group, and ICICI Bank today inaugurated a global conference for small and medium enterprises. This event, the first of its kind in India, is serving as a forum for sharing experiences and lessons learned from around the world. It will also focus on localization and marketing of the SME Toolkit, a free online resource to help small businesses improve their management practices and to understand the business regulatory environment.
Delegates will be trained to use the new version of the SME Toolkit, which was launched jointly by IFC, ICICI Bank, and IBM in August 2007. They will also gather ideas for developing the Toolkit in participants’ countries. The latest software version, Web 2.0, includes live chat, online forums, and interactive business directories that create a global community where smaller businesses can interact and collaborate. The twenty three global partner organizations in the Toolkit program can share content, enriching information and services for small businesses around the globe.
V. Vaidyanathan, Executive Director, ICICI Bank, said, “SME development is a key pillar to private sector growth in emerging markets. We are glad to meet and share the experiences today that will enable us to improve and enhance the Toolkit, thus helping SMEs benefit from it in every possible way."
About 23 countries are participating in the conference. Laurence Carter, IFC Director of Small and Medium Enterprises, said, “We are delighted to see so many participants from around the world using a common platform to offer tailored support to small and medium businesses from Africa to Asia to Latin America. Developing and supporting global partnership networks to benefit small business development is part of IFC’s core strategic goals.”
ICICI launched the India SME Toolkit site (
www.india.smetoolkit.org
) in August 2007. It contains up-to-date information and tools designed to help SMEs increase productivity, efficiency, and capacity. The site also contains about 20,000 notifications, 10,000 circulars, 600 draft agreements, 3,600 business forms, and 4,500 legal queries. The Toolkit is also available as online and offline modules, including the portal, CDs, mobile alerts, and training sessions. The online modules are available in English and Hindi.
The global resources for the SME Toolkit are developed by IFC, with technical support from IBM. ICICI Bank makes the content multilingual and tailors it to the Indian context. The bank is working to make the Toolkit available to all SMEs in India.
About IFC
IFC, a member of the World Bank Group, fosters sustainable economic growth in developing countries by financing private sector investment, mobilizing private capital in local and international financial markets, and providing advisory and risk mitigation services to businesses and governments. IFC’s vision is that poor people have the opportunity to escape poverty and improve their lives. In FY07, IFC committed $8.2 billion and mobilized an additional $3.9 billion through loan participations and structured finance for 299 investments in 69 developing countries. IFC also provided advisory services in 97 countries. For more information, visit
www.ifc.org
.
About ICICI Bank
ICICI Bank (NYSE:IBN) is India's largest private sector bank and second-largest bank overall, with over 50 years’ presence in financial services and with assets of 2958.32 billion rupees as of December 31, 2006. The bank offers a wide range of products and services to corporate and retail customers through a variety of delivery channels and through specialized subsidiaries in the areas of investment banking, life and nonlife insurance, private equity, and asset management. ICICI Bank is a leading player in the retail banking market and serves its large customer base through a network of over 670 branches and extension counters, 2,680 ATMs, call centers, and Internet banking (
www.icicibank.com
) to ensure that customers have access to its services at all times.
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