MICROCAPITAL BRIEF: International Finance Corporation, Jordan Ahli Bank Launch IFC’s SME Toolkit in Jordan

The International Finance Corporation (IFC), a member of the US-based World Bank Group, and Jordan Ahli Bank, a Jordan-based financial institution, recently launched the SME Toolkit, an initiative of IFC, in Jordan. SME Toolkit is a free online platform intended to help small and medium-sized enterprises (SMEs) improve business practices, access financing options and enter into new markets through information and educational resources customized for the Jordanian market. Adnan Khalil, head of the SME services department at Jordan Ahli Bank, stated, “Smaller enterprises employ about 70 percent of Jordanians, but often they don’t have access to information that is vital for their business…. This platform will help address that knowledge gap.”

SME Toolkit is an IFC program developed in partnership with US-based technology firm IBM that was launched in 2002 and is available in approximately 40 countries and 17 languages as of April 2012. As of 2012, IFC reported total assets of USD 75.7 billion. It invested USD 166 million in Jordan during the financial year ending in 2012. As of December 2011, Jordan Ahli Bank reported total assets of JOD 2.6 billion (USD 3.7 billion) and operates in Jordan, Lebanon, Palestine and Cyprus.

By Nicole Boyd, Research Associate

About International Finance Corporation (IFC)
A member of the US-based World Bank Group, the International Finance Corporation (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 2012, the institution reported total assets of USD 75.7 billion.

About Jordan Ahli Bank
Jordan Ahli Bank, which was previously named Jordan National Bank, is a Jordan-based financial institution that operates in Jordan, Lebanon, Palestine and Cyprus and is listed on the Amman Stock Exchange. As of December 2011, the bank reported total assets of JOD 2.6 billion (USD 3.7 billion) .

Sources and Additional Resources:

MicroCapital. March 15, 2013, “MICROCAPITAL BRIEF: Women’s World Banking (WWB) Partners with Australia’s AusAID on Microinsurance, 90k Jordanians Reached by Microfund for Women,” https://www.microcapital.org/microcapital-brief-womens-world-banking-wwb-partners-with-australias-ausaid-on-microinsurance-90k-jordanians-reached-by-microfund-for-women/

MicroCapital. May 8, 2012, “MICROCAPITAL BRIEF: International Finance Corporation (IFC), Swiss Government Sponsor Workshops for Small and Medium-sized Enterprises in Egypt,” https://www.microcapital.org/microcapital-brief-international-finance-corporation-ifc-swiss-government-sponsor-workshops-for-small-and-medium-sized-enterprises-in-egypt/

MicroCapital. April 6, 2012, “MICROCAPITAL BRIEF: International Finance Corporation (IFC), Qatar Development Bank (QDB) Expand Platform SME Toolkit in Qatar,” https://www.microcapital.org/microcapital-brief-international-finance-corporation-ifc-qatar-development-bank-qdb-expand-platform-sme-toolkit-in-qatar/

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

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