cat/job-creation
The SME Sustainability & Growth Conference is aimed at facilitating a much needed conversation between government and solution providers in banking, development finance, business consultants, and SMEs, to foster collaboration and growth.
The event will provide an opportunity for
A few years ago, about two million people were unbanked worldwide. The World Bank is working to bridge that gap through a commitment to universal access to financial services by 2020. IFC Vice President Karin Finkelston says the segments that should be focused on are youth, women, rural populations and smallholder farmers.
Some 99% of firms in the OECD are small and medium-sized enterprises (SMEs) and they generate about 70% of all jobs. But in order to stay vital and competitive in today’s global economy, SMEs need support. OECD asked their panel of experts for their views.
Why do SMEs matter for productivity and inclusive growth, and what new policies are needed for their development?
The World Business Angels Investment Forum (WBAF), committed to collaborate globally to empower the economic development of the world by fostering innovative financial instruments for SMEs, innovators and startups, has entered into a memorandum of understanding (MOU) with the SME Finance Forum. The agreement means the two organizations will join in global efforts to ease access to finance for SMEs, which will create jobs and contribute to the world economy.
More than 40 percent of African entrepreneurs cite access to finance as the major factor limiting their growth, according to World Bank Enterprise Surveys. In this article, the author says that West African start-ups and innovative young SMEs are indeed facing the classic ‘valley of death’ — the space between where the entrepreneur’s own resources from family and friends (“love money”) gets depleted and when the company is financially viable enough to attract later-stage investment and financing available on the market.
IFC announced a $77 million senior loan facility to PT. Indosurya Inti Finance (Indosurya), a local multifinance company. The IFC-led financing package aims to bolster the country’s small and medium enterprises (SMEs), which serves as the engine of job creation and economic growth.
IFC announced a $40 million senior loan facility to PT Radana Bhaskara Finance Tbk (Radana). The IFC-led financing package aims to develop the country’s micro, small and medium enterprises (MSMEs), and increase financing for women-owned MSMEs.
The EBRD is providing Banque de Tunisie with a financing package that consists of a €50 million loan for on-lending to small and medium-sized enterprises (SMEs) and a US$ 20 million trade finance line that is expected to be signed shortly.
The SME market segment accounts for more than 90 per cent of all businesses in Tunisia. It is therefore a vital engine to provide jobs, build a modern diverse economy and to boost long-term, sustainable growth.
Mastercard jointly announced with Governor Andrew Cuomo that it will add to its New York state operations with the expansion of its New York City Technology Hub. The company will relocate its current tech hub operations to a new Flatiron location at 150 Fifth Avenue and nearly triple its work force through the creation of over 470 new jobs by 2024. The Mastercard technology hub, located in the Flatiron district, is home to members of the company's digital product, operations technology, Masterpass, and research & development teams.
The Banker's economics editor Silvia Pavoni talks to Roger Havenith, deputy chief executive of the European Investment Fund, and Adel Meer, head of SME finance at the International Finance Corporation (IFC) about how their organisations can help fill the global $5,200bn finance gap for micro, small and medium-sized businesses. The interview took place at the SME Finance Forum in Berlin.
