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Author: Asian Development Bank Publisher: Asian Development Bank ISBN: 929269359X Category : Business & Economics Languages : en Pages : 143
Book Description
Small and medium-sized enterprises (SMEs) are widely regarded as the backbone of economies and make a unique contribution to gross domestic product, exports, and employment. Yet, SMEs face multiple challenges in gaining access to finance that can fuel their growth. This publication scrutinizes the multiple factors affecting SMEs’ access to finance and the impact of credit guarantee schemes (CGSs), examines country case studies from across the globe, and highlights the financial and economic additionality of CGSs when they are rigorously setup. To support Asia and Pacific economies, the publication suggests operational policy recommendations for the key priority areas of CGSs, focusing on legal and regulatory setup, corporate governance, services offered, risk management, and monitoring.
Author: Asian Development Bank Publisher: Asian Development Bank ISBN: 929269359X Category : Business & Economics Languages : en Pages : 143
Book Description
Small and medium-sized enterprises (SMEs) are widely regarded as the backbone of economies and make a unique contribution to gross domestic product, exports, and employment. Yet, SMEs face multiple challenges in gaining access to finance that can fuel their growth. This publication scrutinizes the multiple factors affecting SMEs’ access to finance and the impact of credit guarantee schemes (CGSs), examines country case studies from across the globe, and highlights the financial and economic additionality of CGSs when they are rigorously setup. To support Asia and Pacific economies, the publication suggests operational policy recommendations for the key priority areas of CGSs, focusing on legal and regulatory setup, corporate governance, services offered, risk management, and monitoring.
Author: Roohollah Aboojafari Publisher: ISBN: Category : Languages : en Pages :
Book Description
Small and medium-sized enterprises (SMEs) in their growth stage reach the point where, on the one hand, personal resources do not meet their needs, and, on the other, they do not have enough collateral to attract external finance. Access to finance can be facilitated by obtaining loans from financial institutions backed by governmental credit guarantees. Therefore, the development of a sound credit guarantee scheme will be an important step in filling the financing gap of SMEs. We investigate the situation of the credit guarantee scheme for SMEs in Iran by using the available data and interviews with activists from this field with the grounded theory method. We show the weaknesses of the Iranian credit guarantee scheme, and based on the analysis, present solutions and policy recommendations in accordance with the social and economic environment of the Islamic Republic of Iran. The most important problem is the lack of a credit database for comprehensive assessment of SMEs, especially knowledge-based enterprises. The lack of a robust database makes it impossible to carry out a comprehensive evaluation because these models require a large amount of data. The lack of accurate models makes it difficult to rate credit status and thus to issue credit guarantees. In addition, the current level of the capital of the credit guarantee funds in Iran is not sufficient given the large number of SMEs in the country.
Author: Paola Leone Publisher: Springer ISBN: 023036232X Category : Business & Economics Languages : en Pages : 295
Book Description
This book analyses and confronts the functioning of guarantee systems for SMEs in countries where these schemes had an important development. The book also highlights how the current financial crisis is modifying the guarantees schemes, through policy maker interventions.
Author: Weltbankgruppe Publisher: ISBN: Category : Languages : en Pages :
Book Description
Access to finance, particularly credit, is widely recognized as problematic for small and medium enterprises (SMEs), hampering their growth and development. To address this challenge, many governments around the world intervene in SME credit markets through credit guarantee schemes (CGSs). A CGS offers risk mitigation to lenders by taking a share of the lenders' losses on SME loans in case of default. CGSs can contribute to expand access to finance for SMEs. Yet they may bring limited value added and prove costly if they are not designed and implemented well. There have been efforts in recent years to identify good practices for CGSs, but the international community still lacks a common set of principles or standards that can help governments establish, operate, and evaluate CGSs for SMEs. The Principles for Public Credit Guarantees for SMEs are filling this gap. The Principles provide a generally accepted set of good practices, which can serve as a global reference for the design, execution, and evaluation of public CGSs around the world. The Principles propose appropriate governance and risk management arrangements, as well as operational conduct rules for CGSs, which can lead to improved outreach and additionality along with financial sustainability. Developed through extensive consultations with stakeholders, the Principles draw from both the literature on good practices for CGSs and sound practices implemented by a number of successful CGSs around the world.
Author: Naoyuki Yoshino Publisher: Routledge ISBN: 0429684576 Category : Business & Economics Languages : en Pages : 400
Book Description
There is limited access for small and medium-sized enterprises (SMEs) to bank credit. This book proposes new and sustainable models to help ease the access of SMEs to finance and boost economic growth and job creation in Asia. This book looks at the difficulties of SMEs in accessing finance and suggests ways on how to mitigate these challenges. It suggests how we can develop credit information infrastructures for SMEs to remedy the asymmetric information problem and to utilize credit rating techniques for the development of a sustainable credit guarantee scheme. The book provides illustrations of various Asian economies that implemented credit guarantee schemes and credit risk databases and is a useful reference for lessons and policy recommendations.
Author: Michael Gudger Publisher: Food & Agriculture Org. ISBN: 9789251041734 Category : Political Science Languages : en Pages : 154
Book Description
The problem of collateral is a daily issue for lenders and causes much debate in the development finance community. Given the difficulties experienced in arranging traditional forms of loan security, such as land or chattel mortgages, various collateral substitutes have been proposed. Among the substitutes for traditional collateral is the loan guarantee. Guarantee systems for loans have been proposed, planned and implemented in various countries. The assumption made by proponents of such a service is that the guarantee organization is either better informed about the risk of the loan than the lender or it is better structured financially to be able to manage the risk. Despite the apparent attractiveness of a loan guarantee, the empirical evidence available gives little encouragement. Nevertheless, interest in guarantees continues.
Author: Valeriya Goffe Publisher: ISBN: Category : Languages : en Pages :
Book Description
Financial inclusion, particularly for small and medium enterprises (SMEs), is widely recognized as a key driver of economic growth and job creation in all economies. SMEs represent a significant part of the world economy and are one of the strongest drivers of economic development, innovation, and employment, since most formal jobs in emerging markets are SME jobs. Given that the global economy needs to generate six hundred million new jobs by 2030, SME development has become a high priority for many governments in both developing and developed economies. Access to finance remains one of the key constraints to the growth of SMEs. As part of the technical cooperation program agreement with the Saudi government, the World Bank Group (WBG) team has been working with the management and staff of the Kafalah partial credit guarantee scheme (PCGS) to provide technical assistance to strengthen Kafalah's operations, introduce products innovations, and integrate global best practices. This policy note summarizes best practices on various topics of interest to Kafalah that the WBG provided during 2018-2020.
Author: Lucia Cusmano Publisher: ISBN: Category : Economics Languages : en Pages : 74
Book Description
Abstract: Credit Guarantee Schemes (CGSs) are a widely used policy tool to ease access to finance by SMEs, which, in some countries, ramped up in the aftermath of the 2008-09 financial crisis. The present study aims to improve understanding about the role, impact and sustainability of CGSs, by investigating their characteristics along several dimensions, such as the ownership structure and funding, the legal and regulatory framework, and the operational characteristics of the schemes, including types of services, eligibility criteria, guarantee assignment process and credit risk management. The study explores these dimensions, using detailed examples from OECD and non-OECD countries. It identifies structural and emerging challenges for the financial sustainability and the financial and economic additionality of these schemes, in a rapidly changing economic and regulatory environment. The study investigates in particular the case of Mutual Guarantee Schemes, which are created by borrowers in order to improve their access to finance
Author: Publisher: World Bank Publications ISBN: 0821371789 Category : Social Science Languages : en Pages : 122
Book Description
This book's prime audience is government policy-makers. It provides a policy framework for governments to increase micro, small and medium enterprises' access to financial services?one which is based on empirical evidence from around the world. Financial sector policies in many developing countries often work against the ability of commercial financial institutions to serve this market segment, albeit, often unintentionally. The framework guides governments on how to best focus scarce resources on three things: ? developing an inclusive financial sector policy; ? building healthy financial ins
Author: Asian Development Bank
Author: Asian Development Bank
Author: Roohollah Aboojafari
Author: Paola Leone
Author: Weltbankgruppe
Author: Naoyuki Yoshino
Author: Jacob Levitsky
Author: Michael Gudger
Author: Valeriya Goffe
Author: Lucia Cusmano
Author: