IFC Provides $300 mln to Support SMEs in MENA during 2013

World Bank Group’s IFC has spent around US $ 300 million during 2013 in supporting the SMEs in the MENA region, the corporation’s regional director revealed on Sunday.

Speaking to the 6th Conference for the SMEs Governance that kicked off today in Cairo, Nada Shousha –  Regional Director for the International Finance Corporation (IFC) for Egypt, Libya and Yemen –  stated that IFC trained around 2300 SMEs  in corporate governance.

She pointed out that SMEs account for around 10% of MENA economies’ interests which in return such firms would face a series of long-term obstacles.

Moreover, the official asserted IFC’s commitment  to contribute to the economic development in Egypt within the upcoming period through providing more supporting tools necessary for the SMEs segment.