Middle East

CURRENT PROJECTS

Jordan Financial Operations and Restructuring (FOR-Jordan)
For the Middle East Partnership Initiative (MEPI) of the State Department, FMI is implementing an innovative program to increase the access of small and medium enterprises (SMEs) in Jordan to capital and credit. FOR-Jordan consists of four interrelated components: SME training based on user-friendly, state-of-the-the-art financial management software (Business Evaluator); Banker training in SME finance, risk management, and financial ratio analysis, again based on an innovative software programming (Credit Risk Scorer); financial restructuring consulting, based on new financial software (What If and Goal Seeker); and Public Awareness/Alumni Networking to provide a forum for bankers and SMEs to exchange views on SME financing issues and to explore opportunities for business transactions. FMI’s active FOR-Jordan local partners are the Business Development Center (BDC), the Jordanian Loan Guarantee Corporation (JLGC), and the National Fund for Enterprise Support (NAFES). Period of Performance: 2004-2007.

For more Information go to www.forjordan.org

PAST PROJECTS

West Bank/Gaza Financial Markets Reform, Phase II
This USAID project expanded on FMI’s previous efforts to develop capital markets and non-bank financial intermediation in the West Bank and Gaza. FMR-II focused on six principal components: (1) development of the financial markets’ legal and regulatory framework, including the reform of company, bankruptcy, and other commercial laws; (2) introduction of new financial instruments, with a focus on mortgage bonds and debt obligations; (3) financial restructuring, which provided firm-level technical assistance on problem loans, and assisted Palestinian banks with credit analysis and bankruptcy work-outs; (4) financial markets education, which involved working with private sector associations and universities to implement training programs to targeted audiences; (5) the Emergency Loan Program (ELP), which extended credit to SMEs through selected Palestinian banks; and (6) land reform (titling, registration, surveying, etc.) and mortgage finance, which focused on improving the titling and registration process in order to permit mortgage financing. Period of Performance: 2003-2006

Morocco Modernization of Commercial Law and the Judiciary
For USAID, FMI implemented a program to improve and modernize key segments of the commercial law framework and court system in Morocco. FMI oversaw a series of integrated activities in legal drafting, systems development and training that assisted the country in taking significant steps to improve the environment for commercial activity, rationalize the regulatory framework and increase efficiency in the administration of justice. FMI's team of legal and judicial specialists reviewed and updated key commercial and business laws, working closely with the Ministry of Justice to improve record keeping and the tracking of cases and trends, and prepared a pilot program to fully modernize the Marrakech Commercial Courts. Period of Performance: 2002-2004.

West Bank/Gaza Capital Markets Development
For USAID, FMI implemented a capital markets development program in West Bank/Gaza focused on fostering private sector rebuilding and growth. Technical assistance on financial restructuring was provided to address the widespread insolvency in the private sector. The Palestinian Securities Exchange (PSE) received assistance on rule changes including disclosure requirements and measures to increase liquidity and volume. Additionally, FMI developed a set of non-bank financial initiatives in the mortgage finance, leasing, insurance, and pension sectors. These initiatives included administrative rule drafting and assistance to private sector actors. As part of its training initiative, FMI provided courses to financial intermediaries and worked with colleges and universities to develop curricula. FMI also provided a forum for communication between private sector development initiatives and international donors and investors that put qualified Palestinian firms in touch with sources of foreign capital. Period of Performance: 2000-2003

West Bank/Gaza Capital Markets Development
For USAID, FMI reviewed and assessed the USAID Capital Markets Development Initiative for the West Bank/Gaza. FMI reviewed proposals on developing a Capital Markets Regulatory Authority; evaluated the Palestine Securities Exchange (PSE) operations; and assessed possible initiatives for training broker-dealers, and PSE staff. Period of Performance: 1999.

West Bank and Gaza Private Sector Project
For USAID, FMI designed a project to support competitiveness, marketing, and trade expansion by Palestinian small businesses. The FMI team analyzed the macroeconomic environment, the business climate, potential business sector targets of opportunity, firm-level constraints to increased productivity and competitiveness, and the institutional framework supporting trade and investment. FMI prepared a strategy document outlining possible small business support activities. Period of Performance: 1998.