Sailing the Seven “Cs:” Unlocking bank financing for SMEs in the Middle East By Arun Hsu, Chief of Party, Jordan Loan Guarantee Facility

mall and medium enterprises (SMEs) are the key to innovation and an engine of economic growth and job creation in the Middle East and North Africa (MENA) region. Despite the crucial role SMEs play in the region’s economies, they have great difficulty accessing financing needed for start-up and/or growth. The financing gap for SMEs in the MENA region is estimated to be between $110 billion and $140 billion.