World Bank Group, Partners launch new initiative to expand A2F for MSMEs, drive growth, jobs in MENA

Cairo, Egypt, January 28, 2020 —The World Bank Group, in partnership with the Netherlands, the United Kingdom, Sweden, and Switzerland, is launching a new, expanded phase of an advisory program to help improve access to finance for micro, small and medium enterprises (MSMEs), promote sustainable job creation, and boost private sector-led economic growth across the Middle East and North Africa.

MSMEs are the backbone of MENA economies, comprising nearly 90 percent of private firms and playing a pivotal role in the creation of dynamic, competitive and inclusive economies and jobs. But their ability to grow has been severely limited, largely by restricted access to finance. As a result, MSMEs in MENA have among the lowest levels of usage of bank loans in the world.

In Washington:
Indira Chand
Phone: +1 (202) 458-0434
E-mail: ichand@worldbank.org

In Cairo:
Mohamed Essa,
Phone: +202 2461 4331
E-mail: messa@ifc.org