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Gujranwala, Pakistan, October 6, 2011—
IFC, a member of the World Bank Group, is sponsoring a conference to improve the business climate for smaller companies in Pakistan, an initiative designed to propel economic growth across the country.
The Small and Medium Enterprises Annual Conference, to be held on Oct. 6 in Gujranwala, will bring together over 200 entrepreneurs, government officials, and development professionals. They will discuss issues such as the regulatory framework governing small and medium enterprises (SMEs) and the performance of the SME sector, which accounts for 40 percent of Pakistan’s GDP. They will also discuss ways to support entrepreneurs.
“Small and medium enterprises are the driving force for any developing country’s economy, and our objective is to enhance entrepreneurial capacity in Pakistan,” said Javed Iqbal, a Project Officer with IFC. “By unlocking the potential of these businesses, we can stimulate fair and equitable economic growth across the country.”
The conference is associated with IFC’s Business Edge training program, which helps SMEs build their management capacity and gain access to financing, elements that are critical to their growth.
To date, Business Edge has trained 1,400 owners and managers of small and medium enterprises in Pakistan, and has eight accredited training partners across the country. It has also signed training agreements with several well-known institutions, including the Aga Khan Foundation, Silk Bank, and Standard Chartered Bank.
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, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets. In fiscal 2011, amid economic uncertainty across the globe, we helped our clients create jobs, strengthen environmental performance, and contribute to their local communities—all while driving our investments to an all-time high of nearly $19 billion. For more information, visit
www.ifc.org
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