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EBRD Provides A €10 Million Loan To Sparkasse Banka Makedonija
Through the European Bank for Reconstruction and Development’s Western Balkans SME Competitiveness Support Programme the Sparkasse Banka Makedonija will receive a €10 million loan to boost lending for SMEs. According to the article, the loan is aimed at improving the competitiveness of local companies, with at least 60 percent of the funds aimed...
Member News: IDB Invest Focuses on the Private Sector
SME Finance Forum member, Inter- American Development Bank (IDB) will work through its “investment arm” IDB Invest to target the private sector. According to the article, IDB will focus on tourism, agribusiness, renewable energy and general manufacturing with a goal of bringing in US$3.5 billion in direct private sector capital. “The IDB Group...
UNSGSA Annual Report 2018
The United Nations Secretary-General’s Special Advocate (UNSGSA) annual report was released and focuses on financial inclusion, technology, innovation and progress. The report covers the advancements with mobile money and technology, in addition to covering the challenges associated with data privacy. Nations Secretary-General’s Special Advocate...
Video: Entrepreneurs Thrive With Finance and Advice For Women in Business Program
Aynur Gümüşsoy, an entrepreneur in Turkey, showcases her bazlama, a type of flatbread very popular in her native town. She among other women entrepreneurs, have been able to grow their businesses under the Finance and Advice for Women programme led by the European Bank for Reconstruction and Development (EBRD), European Union and the Turkish...
World Bank Supports Finance Ministry’s Proposal for Exit Capital Tax for SMEs
The Finance Industry of Ukraine plans to introduce an exit capital tax for SMEs with an annual income of up to UAH 200 million. According to the article, replacing the profit tax by the exit capital tax for SMEs meeting the above criteria, is a way to cut the budget loss. With the support of the World Bank, the exit tax capital will avoid a threat...
Bank Interest Rates on the Rise
According to a report by report from the Hồ Chí Minh Securities Company, interest rates have risen by 0.46 percent for short-term loans, they are now 7 to 9 percent and for medium and long-term loans 9 to 12.5 percent. According to the article, this increase is being used in the hopes of reducing money supply to tackle inflation. A strict monetary...
SME and Entrepreneurship Policy in Indonesia 2018
The Organization for Economic Cooperation and Development (OECD) published a study examining the role SMEs play in economic growth and social inclusion in Indonesia. Data from the Ministry of Co-operatives and SMEs revealed, Indonesian SMEs account for 97 percent of domestic employment and 56 percent of total business investment. The report...
Accion Finance Joins 150 Other Financial Institutions to Promote SME Finance
Washington, D.C. November 6, 2018 –  Accion became the newest member of the SME Finance Forum, a global membership network that brings together financial institutions, technology companies, and development finance institutions to share knowledge, spur innovation, and promote the growth of SMEs. “200 million businesses worldwide need financing to...
Video: Supporting Short-Term SME Finance in Kenya with ‘Invest in Africa’
Invest in Africa, is a credit guarantee scheme in Kenya. With its first ever SME financing loan disbursement to an SME in Turkana County. The project supports short-term SME finance in Turkana County, northern Kenya, and is funded through the Department for International Development’s ‘Kenya Extractives Programme’ and managed by Oxford Policy...
Member News: Over 200 SMEs Benefit from QDB’s Lending Scheme
SME Finance Forum member, Qatar Development Bank (QDB) impacted 298 Qatari SMEs by the disbursement of QR1.6bn from QDB through Al Dhameen. Al Dhameen, is an indirect loan facility programme that aims to motivate banks to offer financing to startups and SMEs that are unable to provide the necessary financing guarantees or collaterals, according to...