MICROCAPITAL BRIEF: International Finance Corporation (IFC), Swiss Government Sponsor Workshops for Small and Medium-sized Enterprises in Egypt

The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, is sponsoring a series of workshops for small and medium-sized enterprises (SMEs) in Egypt “on how to implement sound corporate governance standards to improve their performance, increase access to finance and foster sustained growth.” The program is intended to increase the development SMEs, which some consider a major component of the Egyptian economy. The workshops are partially supported by the Swiss State Secretariat of Economic Affairs (SECO), a government agency focused on economic policy. The number of workshops and number of expected participants were not released.

As of 2011, IFC has 182 member countries, total assets of USD 68.5 billion and USD 12.2 billion mobilized to 518 projects.

By Brendan Millan, Research Associate

About International Finance Corporation (IFC): A member of the World Bank Group, IFC offers loans, equity investments, advisory services and technical assistance to private companies with the intent of alleviating poverty and promoting open and competitive markets in developing countries. As of 2011, IFC has 182 member countries, total assets of USD 68.5 billion and USD 12.2 billion mobilized to 518 projects.

About Swiss State Secretariat of Economic Affairs (SECO): SECO is a government agency of Switzerland that is responsible for the planning and implementation of economic and trade policy measures with developing countries. SECO’s main aims are to integrate partner countries into the global economy and to promote the sustainable economic growth of these countries, thus contributing to poverty reduction. The agency’s priorities include stable economic conditions, competitiveness, trade diversification, domestic and foreign investment, and basic infrastructure. Particular emphasis is placed on energy, environmental and climate issues. SECO has an annual budget of approximately CHF 255 million (USD 276 million).

Sources and Resources:

[1] International Finance Corporation: “IFC Helps Small and Medium Businesses in EgyptImprove their Performance” by Riham Mustafa. http://www.ifc.org/IFCExt/Pressroom/IFCPressRoom.nsf/0/954931D953062854852579F70044CBD1

MicroCapital.org story, September 21, 2011, “MICROCAPITAL BRIEF: Ahmed El Bardai of Egyptian Microfinance Institution Reefy Predicts Boom in Lending to Small and Medium-Sized Enterprises to Boost National Economy”, https://www.microcapital.org/microcapital-brief-ahmed-el-bardai-of-egyptian-microfinance-institution-reefy-predicts-boom-in-lending-to-small-and-medium-sized-enterprises-to-boost-national-economy/

MicroCapital.org story, August 11, 2011, “MICROCAPITAL BRIEF: Microfinance Portfolio Risk Jumps in Tunisia, Egypt, As a Result of Political Unrest,” https://www.microcapital.org/microcapital-brief-microfinance-portfolio-risk-jumps-in-tunisia-egypt-as-a-result-of-political-unrest/

MicroCapital.org story, July 15, 2011, “MICROCAPITAL BRIEF: Overseas Private Investment Corporation (OPIC) to Guarantee $500m in Loans to Microfinance Institutions (MFIs) for Lending to Small and Medium-Sized Enterprises (SMEs) in Egypt, Jordan; USAID to Fund Technical Assistance,”https://www.microcapital.org/microcapital-brief-overseas-private-investment-corporation-opic-to-guarantee-500m-in-loans-to-microfinance-institutions-mfis-for-lending-to-small-and-medium-sized-enterprises-smes-in-egypt-jo/

MicroCapital Universe Profile: International Finance Corporation (IFC), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=International+Finance+Corporation+%28IFC%29

MicroCapital Universe Profile: Swiss State Secretariat of Economic Affairs (SECO), https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=Swiss+State+Secretariat+of+Economic+Affairs+%28SECO%29

Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/

 

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