IFC Advisory Services in the Middle East and North Africa – PEP-MENA – has made progress on key development indicators, according to its recently released annual report, which presents the facility’s achievements to date. During fiscal 2007, the facility increased its assistance to financial institutions, government entities, business associations, training firms, and client companies substantially, helping smaller businesses grow and improve the business environment.
PEP-MENA provided more than $17 million in advisory services within the region, up from $14.7 million in FY06 and $5.7 million in FY05. As of June 2007, it had achieved several key development results:
- Close to 500 small businesses benefited directly from advisory services, with new loans and deposits of about $500 million for small businesses as a result of its assistance to financial institutions in the region
- The facility worked directly with about 50 government agencies to streamline laws, regulations, and administrative practices that will improve the business enabling and regulatory environment
- PEP-MENA’s assistance in the restructuring and privatization of state-owned enterprises and public-private partnership projects increased significantly, contributing to investment flows of about $1.3 billion
- Through various efforts, including conferences, workshops, and seminars, the facility reached over 40,000 institutions, firms, and individuals, thus leveraging resources to build capacity and improve knowledge across the region
Some 40 percent of PEP-MENA’s projects have been implemented in countries—Egypt, Jordan, Morocco, and Tunisia—with limited resources and an abundant labor supply. There has also been a steady increase in the number of projects in frontier and conflict-affected countries—Afghanistan, Iraq, Lebanon, Pakistan, West Bank & Gaza, and Yemen.
Download
full report...[pdf] 
