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Very small business support is still not enough
8/24/2016 0:00
[rtl] Cairo - agencies
reached a new study from the International Finance Corporation, a member of the World Bank Group, noted that despite the fact that a very small projects represent a substantial opportunity for MFIs and tremendous driving force for economic development, but the efforts of lending current efforts are still inadequate.
The report highlights , based on a survey conducted in collaboration with one of theinstitutions of microfinance in the Arab world, efforts to serve the very small enterprise sector, as well as shed light on the challenges that hinder smaller and other actors in theMiddle East and North Africa financial institutions. The report also outlines useful lessons on the part of MFIs that boosted lending efforts to have a very small Khaddmhalparwat from the region and abroad.
For its part , stated that the magic Tibi, Executive Director of Sanabel, «Our results show that a very small projects represent a great opportunity for banks and microfinance institutions that avoided for the time long funded, due to the inability to assess the credit risk, and the limited knowledge of the financial needs of these companies, which ultimately led to a culture of adaptation rather than invent new financial products is very small projects. »the number of staff in very small companies usually between 2 and 10 employees in some cases , bringing the count to 20 employees, as opposed to micro -enterprises, run by one person. There are more than five million very small project in theArab world, but capable of which projects get the funding it needs amounting to only 10 percent, leading to an estimated $ 13.5 billion credit gap. This figure is very small projects unregistered which is usually the smallest and the largest number of projects registered officially and get less financial services and does not include.
, Said Mohammed Khaled, a large IFC operations of microfinance in the Middle East and North Africa region finance officials, saying: «comply ability micro - projects to promote growth and job creation in its ability to obtain adequate financing. Governments must, banks, microfinance institutions and other actors in the private sector can all intervene to bridge the funding gap and boost economic growth and contribute to job creation. »
This is the second report in a series of studies on microfinance conducted by theInternational Finance Corporation and the Sanabel sector. The initiative comes in theframework of the International Finance Corporation and the extensive efforts in theMiddle East and North Africa region to enhance access to financing and support for micro - enterprises and small and medium and to provide employment opportunities. IFC has invested at the international level $ 633 million in microfinance projects in fiscal year 2016, and launched 61 projects with financing institutions
younger. The International Finance Corporation, a member of the World Bank Group, is the largest international development institution focused on the private sector in emerging markets, and uses its capital, expertise and influence to find an opportunity where they are badly needed, and works with more than Alvicherkh around the world, as well as higher investment in fiscal year , the fifteenth in developing countries to $ 19 billion Mazad of capital, expertise and influence to help the private sector to eradicate extreme poverty and promote common prosperity.[/rtl]
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