Islamabad, Pakistan, June 3, 2011
—IFC, a member of the World Bank Group, together with the State Bank of Pakistan (SBP) today launched a series of publications to help the Pakistani banking sector expand access to finance for the small and medium enterprises that drive job creation and growth in the country.
IFC and SBP have produced a series of booklets about the ways banks can increase lending to small and medium enterprises. These booklets, which cover ten sectors including agriculture, education and logistics, aim to help banks create better and lower-cost product programs that enable more small businesses to get financing and expand their operations.
Kaiser Naseem, IFC’s Head of Bank Advisory Services for MENA, said, “IFC works to help small businesses obtain financing to grow and create jobs. Our work in Pakistan will encourage banks to lend money to new markets, encouraging economic growth.”
These booklets follow a study conducted by IFC and SBP in Pakistan that included the participation of 15 Pakistani banks, and over 300 interviews of small businesses in 10 sectors. Each booklet includes an industry overview and chapters on market assessment, risk assessment, financial benchmarking, proposed banking products for the sector, and guidance on how these products could be channeled and distributed.
IFC Advisory Services in the Middle East and North Africa supports regional efforts to develop financial infrastructure, build the capacities of commercial banks to provide financial services to SMEs, strengthen bank’s risk management frameworks, increase the availability of microfinance, and expand the availability of affordable housing finance by developing robust primary and secondary residential mortgage markets.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in developing countries. We create opportunity for people to escape poverty and improve their lives. We do so by providing financing to help businesses employ more people and supply essential services, by mobilizing capital from others, and by delivering advisory services to ensure sustainable development. In a time of global economic uncertainty, our new investments climbed to a record $18 billion in fiscal 2010. For more information, visit
www.ifc.org
.
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