2004 Annual Review - Small Business Activities
This report of the International Finance Corporation's (IFC) support for small business asserts that small and medium enterprise (SME) development is a core component of IFC's corporate strategy.A joint initiative of IFC and the World Bank, the SME Department provides support services for IFC's many different SME-related activities.
The review presents allocation of World Bank Group's SME investments for the year 2004, from IFC, Multilateral Investment Guarantee Agency, International Bank for Reconstruction and Development and International Development Association.
It describes an evolving list of lessons learnt in the SME sector which include:
- Package approach;
- Local presence;
- Financing through intermediaries;
- Wholesale approach.
The review highlights the following for the year 2004:
- Creation of a Private Enterprise Partnership for the Middle-East (PEP-ME);
- Joint program for African micro/SME development;
- Increase in IFC's grant-making arms - Capacity Building Facility - portfolio to $23.4 million, supporting 117 projects.
The review also provides insights on the SME approach to developing financial markets under the broad realms of:
- Microfinance;
- SME banking;
- Leasing.
A separate section of the review presents innovation and learning, highlighting:
- IFC's intellectual leadership in the arena;
- Business Edge, IFC's global SME management training initiative;
- IFC's Capacity Building Facility.
